33. For the purposes of the holding limit referred to in section 32, related entities are considered to be a single entity with an overall holding limit that they must distribute among themselves by allotting percentage shares.
The distribution must be disclosed to the Minister when the related entities register for the system in accordance with subparagraph 3 of the first paragraph of section 9 or, in the case of a new business relationship within the meaning of subparagraph 1 of the second paragraph of that section, within 30 days from the creation of that relationship. The information must, however, be sent to the Minister not more than 40 days before an auction when one of the related entities wishes to be registered as a bidder.
The distribution referred to in the second paragraph must be confirmed by all the related entities subject to the distribution. Despite section 32, until all the related entities have confirmed the distribution, the holding limit of the last emitter or participant to join the group of related entities is set at zero.
O.C. 1297-2011, s. 33; O.C. 1184-2012, s. 20; 1462-2022O.C. 1462-2022, s. 251.