172.1. The Government may, by regulation,
(1) define “eligible protection or development expenses” for the purposes of section 123, and prescribe exclusions, ceilings and deductions;
(2) establish rules for the calculation and substantiation of eligible development expenses applicable to a calendar year where a producer is a natural person or, in other cases, to the fiscal year of a producer, and authorize the carrying forward of such expenses, even expenses incurred before the coming into force of the regulations;
(3) determine the content of the report referred to in paragraph 3 of section 123.
The content of the regulations may vary depending on the class of expenses.
Before recommending the adoption of regulations by the Government under this section, the Minister must obtain the advice of the Minister of Revenue, which he shall submit together with his recommendation.
1996, c. 14, s. 19; 2001, c. 6, s. 120.