I-3 - Taxation Act

Section 1029.8.36.166.1 Disposition versions

2012-05-09

1029.8.36.166.1. (Repealed).

2003, c. 9, s. 340; 2012, c. 8, s. 228.

2006-03-01

1029.8.36.166.1. In this division,

“associated group” has the meaning assigned by section 1029.8.36.166.7;

“eligible activity” of a corporation means an activity of the corporation on the Nasdaq Stock Exchange as an order-entry firm or market maker;

“eligible transaction management system” of a corporation means a transaction management system in respect of which the corporation holds, for the purposes of this division, a certificate issued by the Minister of Finance and that

(a)  consists of electronic communications equipment, software, software user licences or dedicated electronic connections, used to carry out activities of executing, managing and monitoring transactions in accordance with the applicable standards and regulations of the Nasdaq Canada stock market and to enable those activities to be integrated into the administrative operations of the corporation; and

(b)  is used in connection with an eligible activity of the corporation;

“excluded corporation” for a taxation year means

(a)  a corporation that is exempt from tax for the year under Book VIII, other than an insurer referred to in paragraph k of section 998 not so exempt from tax on all of its taxable income by reason of section 999.0.1; or

(b)  a corporation that would be exempt from tax for the year under section 985, but for section 192;

“expenditure in respect of administrative costs” of a corporation for a taxation year means the amount determined in its respect for the year pursuant to section 1029.8.36.166.2;

“expenditure in respect of labour recruitment and training” of a corporation for a taxation year means the amount determined in its respect for the year pursuant to section 1029.8.36.166.4;

“expenditure in respect of technological equipment” of a corporation for a taxation year means the amount determined in its respect for the year pursuant to section 1029.8.36.166.3;

“expenditure in respect of the eligible transaction management system” of a corporation for a taxation year means the amount determined in its respect for the year pursuant to section 1029.8.36.166.5;

“Nasdaq Stock Exchange” means a stock exchange the activities of which in Québec are carried on by a corporation recognized as a self-regulatory organization under the Act respecting Nasdaq stock exchange activities in Québec (chapter E-20.01);

“National Association of Securities Dealers” means a corporation incorporated in the United States under the laws of the State of Delaware under the name of National Association of Securities Dealers, Inc.;

“qualified corporation” for a taxation year means a corporation, other than an excluded corporation, that, in the year, carries on a business in Québec and has an establishment in Québec where it engages in an eligible activity and that holds for the year a valid qualification certificate issued by the Minister of Finance for the purposes of this division.

2003, c. 9, s. 340.