S-29.1 - Act respecting Québec business investment companies

Section 12.3 Disposition versions

1999-12-20

12.3. (Repealed).

1989, c. 72, s. 10; 1999, c. 40, s. 305; 1999, c. 83, s. 301.

1999-10-22

12.3. A qualified investment in a designated region is an investment which, at the time of acquisition,

(1)  is a qualified investment under section 12;

(2)  is made in a qualified legal person which, during the 12 months preceding the date of the investment, or during the months preceding that date in the case of a legal person which has been operating for less than 12 months, has paid more than 75 % of the wages paid to its employees, within the meaning of section 771 of the Taxation Act (chapter I-3), to employees of an establishment located in a designated region;

(3)  is made by a company whose paid-up capital in respect of its issued and outstanding common shares with full voting rights is not less than $50 000.

1989, c. 72, s. 10; 1999, c. 40, s. 305.

1989-12-20

12.3. A qualified investment in a designated region is an investment which, at the time of acquisition,

(1)  is a qualified investment under section 12;

(2)  is made in a qualified corporation which, during the 12 months preceding the date of the investment, or during the months preceding that date in the case of a corporation which has been operating for less than 12 months, has paid more than 75 % of the wages paid to its employees, within the meaning of section 771 of the Taxation Act (chapter I-3), to employees of an establishment located in a designated region;

(3)  is made by a company whose paid-up capital in respect of its issued and outstanding common shares with full voting rights is not less than $50 000.

1989, c. 72, s. 10.