C-8.3 - Act respecting international financial centres

Section 16 Disposition versions

2011-02-17

16. (Repealed).

1999, c. 86, s. 16; 2002, c. 40, s. 3; 2011, c. 1, s. 4.

2002-10-17

16. The Minister shall issue to a corporation or partnership a qualification certificate recognizing one of its employees as an eligible specialist upon being satisfied that

(1)  at the beginning of the period covered by the qualification certificate or, if a qualification certificate has previously been issued to an employer in respect of the employee under this section or for the purposes of Division II.6.9 of Chapter III.1 of Title III of Book IX of Part I of the Taxation Act (chapter I-3), at the beginning of the period covered by the first such qualification certificate issued to an employer in respect of that employee,

(a)  the employee has held, for no longer than 48 months, a university diploma in a subject relevant to the field of international financial transactions, or

(b)  the employee passed, no longer than 48 months previously, the first examination leading to chartered financial analyst (CFA) designation ; and

(2)  (subparagraph repealed);

(3)  it may reasonably be expected that a qualification certificate issued in respect of the employee pursuant to section 15 in relation to the employee’s employment with the corporation or partnership will also be valid for the period covered by the qualification certificate.

The qualification certificate is valid only for the period indicated thereon, which shall not exceed 36 months or, where a qualification certificate has previously been issued to an employer in respect of the employee under this section or for the purposes of Division II.6.9 of Chapter III.1 of Title III of Book IX of Part I of the Taxation Act, end after the 36-month period that began on the first day of the period covered by the first such qualification certificate issued to an employer in respect of the employee.

1999, c. 86, s. 16; 2002, c. 40, s. 3.

1999-12-20

16. The Minister shall issue to a corporation or partnership a qualification certificate recognizing one of its employees as an eligible specialist upon being satisfied that

(1)  the employee is the holder of a university diploma in a subject relevant to the field of international financial transactions,

(2)  at the beginning of the period covered by the qualification certificate or, if a qualification certificate has previously been issued to an employer in respect of the employee under this section or for the purposes of Division II.6.9 of Chapter III.1 of Title III of Book IX of Part I of the Taxation Act (chapter I‐3), the period covered by the first such qualification certificate issued to an employer in respect of that employee, the employee had not more than four years’ experience relevant to the field of international financial transactions, and

(3)  it may reasonably be expected that a qualification certificate issued in respect of the employee pursuant to section 15 in relation to the employee’s employment with the corporation or partnership will also be valid for the period covered by the qualification certificate.

The qualification certificate is valid only for the period indicated thereon, which shall not exceed 36 months or, where a qualification certificate has previously been issued to an employer in respect of the employee under this section or for the purposes of Division II.6.9 of Chapter III.1 of Title III of Book IX of Part I of the Taxation Act, end after the 36-month period that began on the first day of the period covered by the first such qualification certificate issued to an employer in respect of the employee.

1999, c. 86, s. 16.