I-3 - Taxation Act

Section 1049.1.2 Disposition versions

2017-12-07

1049.1.2. (Repealed).

1990, c. 7, s. 175; 1997, c. 3, s. 71; 1999, c. 83, s. 273; 2001, c. 7, s. 169; 2017, c. 29, s. 201.

2006-03-01

1049.1.2. Where a corporation, as part of an issue of convertible securities, issues a convertible security which its holder, following the exercise of the right of conversion conferred on him by that convertible security, may convert into a share described in section 965.9.1.0.1 with a stipulation that it can be included in a stock savings plan and the share is not listed on a Canadian stock exchange within 60 days after the date of the receipt for the final prospectus or of the exemption from filing a prospectus in respect of such issue of convertible securities, the corporation incurs a penalty equal to 25% of the adjusted cost, determined under section 965.6, of each share issued following the exercise of the right of conversion conferred on the holder of each convertible security issued and distributed in Québec as part of such issue of convertible securities if, immediately after the moment of issue of each convertible security, such a right was exercised by each holder.

1990, c. 7, s. 175; 1997, c. 3, s. 71; 1999, c. 83, s. 273; 2001, c. 7, s. 169.