I-3 - Taxation Act

Section 965.17.5.1 Disposition versions

2017-12-07

965.17.5.1. (Repealed).

1997, c. 14, s. 167; 1999, c. 83, s. 148; 2002, c. 9, s. 37; 2017, c. 29, s. 166.

2006-03-01

965.17.5.1. Where a qualified corporation making a public share issue, a convertible security issue or a non-guaranteed convertible security issue does not meet the requirement of subparagraph c of the first paragraph of section 965.17.2 and a winding-up as described in section 556 of a subsidiary within the meaning of that section in respect of which the corporation is, immediately before the commencement of the winding-up, the parent, within the meaning of that section, commences or terminates within the 12-month period immediately preceding the date of the receipt for the final prospectus or of the exemption from filing a prospectus, or commences before and terminates after that period, the corporation is a growth corporation if

(a)  on the date of the receipt for the final prospectus or of the exemption from filing a prospectus, it meets the requirements of subparagraphs a, b, d and e of the first paragraph of section 965.17.2 and has not fewer than five full-time employees who are not insiders within the meaning of section 89 of the Securities Act (chapter V-1.1) or persons to whom they are related; and

(b)  the subsidiary meets, subject to sections 965.17.3.1 and 965.17.3.2, immediately before the commencement of its winding-up, all the requirements to qualify as a growth corporation other than the requirement to make a public share issue, a convertible security issue or a non-guaranteed convertible security issue.

1997, c. 14, s. 167; 1999, c. 83, s. 148; 2002, c. 9, s. 37.