I-3 - Taxation Act

Section 726.4.17.18 Disposition versions

2017-12-07

726.4.17.18. In this Title,

“associated group” at any time has the meaning assigned by section 726.4.17.18.1;

“northern exploration zone” means a territory situated in Québec, which comprises

(a)  the territory situated north of the 49th degree of north latitude and north of the St. Lawrence River and the Gulf of St. Lawrence, and south of the 55th degree of north latitude; and

(b)  (paragraph repealed);

(c)  the territory situated north of the 55th degree of north latitude;

“qualified corporation” means a corporation all of 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 in respect of which an amount is renounced under section 359.2 or 359.2.1 are incurred, and throughout the 12-month period preceding that time, fulfills the following conditions:

(a)  the corporation does not operate any mineral resource or oil or gas well;

(b)  the corporation is not a member of an associated group a member of which operates a mineral resource or an oil or gas well;

“qualified partnership” means 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 12-month period preceding that time, fulfills 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 a member of which operates a mineral resource or an oil or gas well.

1999, c. 83, s. 77; 2002, c. 40, s. 53; 2011, c. 34, s. 35; 2015, c. 21, s. 252; 2017, c. 29, s. 95.

2015-10-21

726.4.17.18. In this Title,

“associated group” at any time has the meaning assigned by section 726.4.17.18.1;

“northern exploration zone” means a territory situated in Québec, which comprises

(a)  the territory between 50°30’ north latitude and 55°00’ north latitude and bounded on the east by the Grenville Front;

(b)  the portion of the territory of the Côte-Nord administrative region (09), described in the Décret concernant la révision des limites des régions administratives du Québec (chapter D-11, r. 1), situated between 59°00’ west longitude and 66°00’ west longitude; and

(c)  the territory situated north of 55°00’ north latitude;

“qualified corporation” means a corporation all of 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 in respect of which an amount is renounced under section 359.2 or 359.2.1 are incurred, and throughout the 12-month period preceding that time, fulfills the following conditions:

(a)  the corporation does not operate any mineral resource or oil or gas well;

(b)  the corporation is not a member of an associated group a member of which operates a mineral resource or an oil or gas well;

“qualified partnership” means 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 12-month period preceding that time, fulfills 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 a member of which operates a mineral resource or an oil or gas well.

1999, c. 83, s. 77; 2002, c. 40, s. 53; 2011, c. 34, s. 35; 2015, c. 21, s. 252.

2011-12-09

726.4.17.18. In this Title,

“northern exploration zone” means a territory situated in Québec, which comprises

(a)  the territory between 50°30’ north latitude and 55°00’ north latitude and bounded on the east by the Grenville Front;

(b)  the portion of the territory of the Côte-Nord administrative region (09), described in the Décret concernant la révision des limites des régions administratives du Québec (chapter D-11, r. 1), situated between 59°00’ west longitude and 66°00’ west longitude; and

(c)  the territory situated north of 55°00’ north latitude;

“qualified corporation” means a corporation all of 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 in respect of which an amount is renounced under section 359.2 or 359.2.1 are incurred, and throughout the 12-month period preceding that time, fulfills the following conditions:

(a)  the corporation does not operate any mineral resource or oil or gas well;

(b)  the corporation neither controls another corporation that operates a mineral resource or an oil or gas well nor is so controlled by such a corporation;

“qualified partnership” means 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 12-month period preceding that time, fulfills 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.

1999, c. 83, s. 77; 2002, c. 40, s. 53; 2011, c. 34, s. 35.

2006-03-01

726.4.17.18. In this Title,

“northern exploration zone” means a territory situated in Québec, which comprises

(a)  the territory between 50°30’ north latitude and 55°00’ north latitude and bounded on the east by the Grenville Front;

(b)  the portion of the territory of the Lower North Shore situated between 59°00’ west longitude and 66°00’ west longitude; and

(c)  the territory situated north of 55°00’ north latitude;

“qualified corporation” means a corporation all of 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 in respect of which an amount is renounced under section 359.2 or 359.2.1 are incurred, and throughout the 12-month period preceding that time, fulfills the following conditions:

(a)  the corporation does not operate any mineral resource or oil or gas well;

(b)  the corporation neither controls another corporation that operates a mineral resource or an oil or gas well nor is so controlled by such a corporation;

“qualified partnership” means 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 12-month period preceding that time, fulfills 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.

1999, c. 83, s. 77; 2002, c. 40, s. 53.