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I-3 - Taxation Act

Section 1049.9
Disposition versions

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1049.9. Where a qualified legal person, within the meaning of the Act respecting Québec business investment companies (chapter S-29.1), other than a corporation referred to in section 1049.9.1, no longer operates primarily in one of the sectors of activity prescribed in the regulations made under paragraph 4 of section 16 of that Act during the 24 months following the date of a qualified investment, without the approval of the body designated under section 1 of that Act, the qualified legal person incurs a penalty equal to 40% of the total amount of the investment.
1986, c. 15, s. 185; 1990, c. 7, s. 190; 1997, c. 3, s. 64; 1997, c. 14, s. 250; 1998, c. 17, s. 64; 2000, c. 39, s. 210; 2001, c. 69, s. 12; 2010, c. 37, s. 111.
1049.9. Where a qualified legal person, within the meaning of the Act respecting Québec business investment companies (chapter S-29.1), other than a corporation referred to in section 1049.9.1, no longer operates primarily in one of the sectors of activity prescribed in the regulations made under paragraph 4 of section 16 of that Act during the 24 months following the date of a qualified investment, without the approval of Investissement Québec, the qualified legal person incurs a penalty equal to 40% of the total amount of the investment.
1986, c. 15, s. 185; 1990, c. 7, s. 190; 1997, c. 3, s. 64; 1997, c. 14, s. 250; 1998, c. 17, s. 64; 2000, c. 39, s. 210; 2001, c. 69, s. 12.
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