C-8.3 - Act respecting international financial centres

Full text
14. (Repealed).
1999, c. 86, s. 14; 2006, c. 13, s. 8; 2012, c. 1, s. 44.
14. The Minister shall issue to a corporation or partnership a qualification certificate recognizing one of its employees as a foreign specialist upon being satisfied that the employee is a specialist in the field of international financial transactions and that it may reasonably be expected that
(1)  from the date on which the person becomes an employee of the corporation or partnership to the end of the period indicated on the qualification certificate,
(a)  the employee’s duties with the corporation or partnership will be devoted, in a proportion of at least 75%, to the operations of a business of the corporation or partnership which constitutes or will constitute an international financial centre, other than back office activities, or
(b)  the employee will be a member of the strategic personnel of the business described in subparagraph a and the employee’s duties with the corporation or partnership will be devoted, in a proportion of at least 75%, to the operations of the business;
(2)  in the case of an individual who has become or is to become resident in Canada to establish an international financial centre of the corporation or partnership in Canada,
(a)  the individual’s duties with the person or partnership for which the individual is working during the period of establishment of the international financial centre are devoted, during that period, in a proportion of at least 75%, to the establishment of the international financial centre,
(b)  the individual takes up employment as an employee of the corporation or partnership within 12 months after the day on which the individual becomes resident in Canada to establish the international financial centre of the corporation or partnership, and
(c)  from the date on which the individual takes up employment as an employee of the corporation or partnership to the end of the period indicated on the qualification certificate,
i.  the individual’s duties with the corporation or partnership are devoted, in a proportion of at least 75%, to the operations of the business of the corporation or partnership that constitutes an international financial centre, other than back office activities, or
ii.  the individual is a member of the strategic personnel of the business described in subparagraph i and the individual’s duties with the corporation or partnership are devoted, in a proportion of at least 75%, to the operations of the business.
The qualification certificate is valid only for the period mentioned in the qualification certificate.
1999, c. 86, s. 14; 2006, c. 13, s. 8.
14. The Minister shall issue to a corporation or partnership a qualification certificate recognizing one of its employees as a foreign specialist upon being satisfied that the employee is a specialist in the field of international financial transactions and that it may reasonably be expected that
(1)  from the date on which the person becomes an employee of the corporation or partnership to the end of the period indicated on the qualification certificate,
(a)  the employee’s duties with the corporation or partnership will be devoted, in a proportion of at least 75 %, to the operations of a business of the corporation or partnership which constitutes or will constitute an international financial centre, other than back office activities, or
(b)  the employee will be a member of the strategic personnel of the business described in subparagraph a and the employee’s duties with the corporation or partnership will be devoted, in a proportion of at least 75 %, to the operations of the business ;
(2)  in the case of an individual who has become or is to become resident in Canada to establish an international financial centre of the corporation or partnership in Canada,
(a)  the individual’s duties with the person or partnership for which the individual is working during the period of establishment of the international financial centre are devoted, during that period, in a proportion of at least 75 %, to the establishment of the international financial centre,
(b)  the individual takes up employment as an employee of the corporation or partnership within 12 months after the day on which the individual becomes resident in Canada to establish the international financial centre of the corporation or partnership, and
(c)  from the date on which the individual takes up employment as an employee of the corporation or partnership to the end of the period indicated on the qualification certificate,
i.  the individual’s duties with the corporation or partnership are devoted, in a proportion of at least 75 %, to the operations of the business of the corporation or partnership that constitutes an international financial centre, other than back office activities, or
ii.  the individual is a member of the strategic personnel of the business described in subparagraph i and the individual’s duties with the corporation or partnership are devoted, in a proportion of at least 75 %, to the operations of the business.
The qualification certificate is valid only for the period indicated thereon, which must be established having regard to the provisions of section 69.
1999, c. 86, s. 14.