I-3 - Taxation Act

Section 1049.2.11 Disposition versions

2017-12-07

1049.2.11. (Repealed).

1990, c. 7, s. 187; 1997, c. 3, s. 71; 2017, c. 29, s. 201.

2006-03-01

1049.2.11. Where a corporation is, in a year, authorized to issue particular shares of its capital stock under an exemption from filing a prospectus granted under subparagraph 2, 3 or 5 of the first paragraph of section 52 of the Securities Act (chapter V-1.1), with the stipulation that they can be included in a stock savings plan, and it states falsely, in a final prospectus or an application for exemption from filing a prospectus relating to an exemption from filing a prospectus contemplated in the second paragraph of section 965.9.7.0.1, that shares issued under the prospectus or the exemption can be included in a stock savings plan described in section 965.2, the corporation incurs a penalty equal to 25% of the adjusted cost, determined under section 965.6, of each such particular share distributed in Québec, in that part of the year following the date on which the receipt for the final prospectus or the exemption from filing a prospectus mentioned in the second paragraph of section 965.9.7.0.1 was granted, to an individual other than a trust, to an investment group or to an investment fund.

1990, c. 7, s. 187; 1997, c. 3, s. 71.