I-3 - Taxation Act

Section 726.4.14 Disposition versions

2015-10-21

726.4.14. In this Title, a qualified partnership is a partnership all the activities of which consist mainly in exploring for minerals, petroleum or gas or developing a mineral resource or an oil or gas well and which, at the time the expenses referred to in paragraph d of section 395 are incurred and throughout the twelve-month period preceding that time, fulfils the following conditions:

(a)  neither the partnership nor any of its members operates a mineral resource or an oil or gas well;

(b)  none of its members is a member of an associated group, within the meaning of section 726.4.17.18.1, a member of which operates a mineral resource or an oil or gas well.

1989, c. 5, s. 86; 1990, c. 7, s. 24; 1997, c. 3, s. 71; 1997, c. 31, s. 143; 2015, c. 21, s. 244.

2006-03-01

726.4.14. For the purposes of this Title, a qualified partnership is a partnership all the activities of which consist mainly in exploring for minerals, petroleum or gas or developing a mineral resource or an oil or gas well and which, at the time the expenses referred to in paragraph d of section 395 are incurred and throughout the twelve-month period preceding that time, fulfils the following conditions:

(a)  neither the partnership nor any of its members operates a mineral resource or an oil or gas well;

(b)  none of its members is a corporation that controls a corporation operating a mineral resource or an oil or gas well or is so controlled by such a corporation.

1989, c. 5, s. 86; 1990, c. 7, s. 24; 1997, c. 3, s. 71; 1997, c. 31, s. 143.