S-29.1, r. 1 - Québec Business Investment Companies Regulation

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10. For the purposes of sections 5 to 8, where any of the computations referred to therein must be made in respect of a legal person described in section 11 that is the recipient of a qualified investment, such computation shall be carried out without taking into account any net shareholders’ equity or assets of a government or of another legal person mentioned in section 11 that is no longer associated with it on the date of the qualified investment and, in the case of the other legal person, was not controlled directly or indirectly by the qualified legal person at any time within the 12 months preceding the date of the qualified investment.
O.C. 1627-85, s. 10; O.C. 1136-2004, s. 15.