M-11.5 - Act respecting transparency measures in the mining, oil and gas industries

Section 4 Disposition versions

2015-10-21

4. Every legal person, corporation, trust or other organization that engages in exploration for or development of mineral substances or hydrocarbons, that holds a permit, right, licence, lease or other authorization for either of those activities or controls such a legal person, corporation, trust or organization and that meets one of the following requirements is an entity that is subject to this Act if

(1)  it is listed on a stock exchange in Canada and has its head office in Québec; or

(2)  it has an establishment in Québec, exercises activities or has assets in Québec and, based on its consolidated financial statements, meets at least two of the following conditions for at least one of its two most recent fiscal years:

(a)  it has at least $20 million in assets;

(b)  it has generated at least $40 million in revenue;

(c)  it employs an average of at least 250 employees.

For the purposes of the first paragraph, the Government may determine, by regulation, any other activity relating to mineral substances or hydrocarbons or any other requirement.

2015, c. 23, s. 4.