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I-3 - Taxation Act

Section 1049.10.1
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1049.10.1. Where a qualified legal person, within the meaning of the Act respecting Québec business investment companies (chapter S-29.1), makes a considerable cash outflow to acquire all or substantially all of the assets of a corporation a shareholder of which is also a shareholder of a Québec business investment company or a person related to any such shareholder during the 24 months preceding the date of a qualified investment in the qualified legal person made by the Québec business investment company or during the 60 months following the date of such an investment, without the approval of the body designated under section 1 of that Act, the qualified legal person incurs a penalty equal to 40% of the amount of the cash outflow, but not in excess of 40% of the amount of the investment.
1990, c. 7, s. 193; 1997, c. 3, s. 64; 1997, c. 14, s. 252; 1998, c. 17, s. 64; 2000, c. 39, s. 213; 2001, c. 69, s. 12; 2010, c. 37, s. 114.
1049.10.1. Where a qualified legal person, within the meaning of the Act respecting Québec business investment companies (chapter S-29.1), makes a considerable cash outflow to acquire all or substantially all of the assets of a corporation a shareholder of which is also a shareholder of a Québec business investment company or a person related to any such shareholder during the 24 months preceding the date of a qualified investment in the qualified legal person made by the Québec business investment company or during the 60 months following the date of such an investment, without the approval of Investissement Québec, the qualified legal person incurs a penalty equal to 40% of the amount of the cash outflow, but not in excess of 40% of the amount of the investment.
1990, c. 7, s. 193; 1997, c. 3, s. 64; 1997, c. 14, s. 252; 1998, c. 17, s. 64; 2000, c. 39, s. 213; 2001, c. 69, s. 12.
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