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

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8. The net shareholders’ equity of a legal person associated, within the meaning of section 17, with another legal person within 12 months preceding the date of the qualified investment, is the aggregate of the net shareholders’ equity of the legal person and of each legal person associated with it, as determined under section 7, less the amount of investments in shares the legal persons own in each other.
O.C. 1627-85, s. 8; O.C. 1136-2004, s. 15.