I-3 - Taxation Act

Section 965.17.5 Disposition versions

2017-12-07

965.17.5. (Repealed).

1992, c. 1, s. 123; 1997, c. 3, s. 71; 1999, c. 83, s. 147; 2002, c. 9, s. 36; 2017, c. 29, s. 166.

2006-03-01

965.17.5. A qualified corporation resulting from an amalgamation, within the meaning of section 544, that makes a public share issue, a convertible security issue or a non-guaranteed convertible security issue not later than 365 days after the amalgamation is a growth corporation if,

(a)  on the date of the receipt for the final prospectus or of the exemption from filing a prospectus, it fulfills the requirements of subparagraphs a, b, d and e of the first paragraph of section 965.17.2;

(b)  throughout the period extending from the date of amalgamation to the date of the receipt for the final prospectus or of the exemption from filing a prospectus, it had not fewer than five full-time employees who were not insiders within the meaning of section 89 of the Securities Act (chapter V-1.1) or persons related to such insiders; and

(c)  immediately before the amalgamation, one of the predecessor corporations fulfilled, subject to sections 965.17.3.1 and 965.17.3.2, all the requirements to qualify as a growth corporation other than the requirement to make a public share issue, a convertible security issue or a non-guaranteed convertible security issue.

1992, c. 1, s. 123; 1997, c. 3, s. 71; 1999, c. 83, s. 147; 2002, c. 9, s. 36.