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I-3 - Taxation Act

Section 1049.11
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1049.11. Where a qualified legal person, within the meaning of the Act respecting Québec business investment companies (chapter S-29.1) does not deal at arm’s length, within the meaning assigned to that expression for the purposes of section 12 of that Act, with a Québec business investment company during the 24 months following the date of a qualified investment made by the company in the qualified legal person, 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 total amount of the investment.
1986, c. 15, s. 185; 1988, c. 4, s. 135; 1990, c. 7, s. 194; 1998, c. 17, s. 64; 2000, c. 39, s. 214; 2001, c. 69, s. 12; 2010, c. 37, s. 115.
1049.11. Where a qualified legal person, within the meaning of the Act respecting Québec business investment companies (chapter S-29.1) does not deal at arm’s length, within the meaning assigned to that expression for the purposes of section 12 of that Act, with a Québec business investment company during the 24 months following the date of a qualified investment made by the company in the qualified legal person, without the approval of Investissement Québec, the qualified legal person incurs a penalty equal to 40% of the total amount of the investment.
1986, c. 15, s. 185; 1988, c. 4, s. 135; 1990, c. 7, s. 194; 1998, c. 17, s. 64; 2000, c. 39, s. 214; 2001, c. 69, s. 12.
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