11. A legal person mentioned in section 10 is a legal person that, on the date when it becomes the recipient of a qualified investment, would be a qualified legal person, were it not for a government or another legal person associated with a government with which it is associated on that date, except for a legal person which is directly or indirectly controlled by the legal person that is the recipient of the qualified investment on that date or was at any time within the 12 months preceding such date and which, once the qualified investment is made, is no longer associated with that government or other legal person.
Such legal person shall also include a legal person covered by section 10 for the 12 months following the date on which it is no longer associated with such government or other legal person.
O.C. 1627-85, s. 11; O.C. 1136-2004, s. 15.