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S-29.1, r. 1 - Québec Business Investment Companies Regulation

Section 12
Disposition versions

Full text
12. For the purposes of sections 7 and 8, where a legal person or a legal person associated with it reduces the net shareholders’ equity by any transaction for the purposes of qualifying as a qualified legal person, the net shareholders’ equity shall be deemed not to have been thus reduced, unless the legal person shows to the satisfaction of Investissement Québec that the transaction was necessary in the normal course of its business.
O.C. 1627-85, s. 12; O.C. 1136-2004, s. 15.
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