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I-3 - Taxation Act
Section 965.95
Disposition versions
965.95. A capital pool company making a public share issue may, where the distribution of shares is made in accordance with a receipt of the Autorité des marchés financiers, be designated by the Minister as a qualified issuing corporation if, on the date of the receipt for the final prospectus,
(a) it is a Canadian corporation;
(b) its assets are less than $200,000,000;
(c) it would meet the requirements of paragraph e of section 965.90 if no reference was made to the corporation’s liquid assets to be used in connection with the carrying out of an eligible transaction;
(d) the major portion of the proceeds of the issue, as stated in the final prospectus or as may be inferred from it, will be used for the carrying out of an eligible transaction whose purpose is, directly or indirectly, to continue an existing business that, if it had been carried on by the corporation throughout the 12 preceding months, would have enabled the corporation to meet the requirements of paragraphs c and d of section 965.90; and
(e) the Minister is of the opinion that the public share issue complies with the objectives of this Title.
965.95. A capital pool company making a public share issue may, where the distribution of shares is made in accordance with a receipt of the Autorité des marchés financiers, be designated by the Minister as a qualified issuing corporation if, on the date of the receipt for the final prospectus,
(a) it is a Canadian corporation;
(b) its assets are less than $100,000,000;
(c) it would meet the requirements of paragraph e of section 965.90 if no reference was made to the corporation’s liquid assets to be used in connection with the carrying out of an eligible transaction;
(d) the major portion of the proceeds of the issue, as stated in the final prospectus or as may be inferred from it, will be used for the carrying out of an eligible transaction whose purpose is, directly or indirectly, to continue an existing business that, if it had been carried on by the corporation throughout the 12 preceding months, would have enabled the corporation to meet the requirements of paragraphs c and d of section 965.90; and
(e) the Minister is of the opinion that the public share issue complies with the objectives of this Title.
