S-34 - Act respecting fiscal incentives to industrial development

Section 17 Disposition versions

1981-06-18

17. Notwithstanding section 15, a corporation may also withdraw from the fund, in regard to an allowable expenditure for which a certificate is obtained, any balance of the sums deposited in the fund in favour of the corporation in respect of any taxation year of the corporation preceding the taxation year in which such certificate is issued, in respect of the taxation year during which such certificate is issued and in respect of the following taxation year.

The aggregate of the withdrawals contemplated in this section and in section 14 for all the taxation years, in respect of an allowable expenditure contemplated by a certificate shall not, however, exceed 25 per cent of such allowable expenditure if the certificate is issued before 11 March 1981 or 50 per cent of such expenditure if the certificate is issued after 10 March 1981.

1977, c. 59, s. 17; 1981, c. 12, s. 19.

1977-12-31

17. Notwithstanding section 15, a corporation may also withdraw from the fund, in regard to an allowable expenditure for which a certificate is obtained, any balance of the sums deposited in the fund in favour of the corporation in respect of any taxation year of the corporation preceding the taxation year in which such certificate is issued, in respect of the taxation year during which such certificate is issued and in respect of the following taxation year.

The aggregate of the withdrawals contemplated in this section and in section 14 for all the taxation years shall not, however, in respect of an allowable expenditure contemplated by a certificate, exceed 25 per cent of such allowable expenditure.

1977, c. 59, s. 17.