C-8.3 - Act respecting international financial centres

Section 15 Disposition versions

2011-02-17

15. The Minister shall issue to a corporation or a partnership a qualification certificate recognizing an employee described in the second paragraph as an employee other than a foreign specialist, upon being satisfied that it may reasonably be expected that from the date or for the period specified in the qualification certificate, the employee’s duties with the corporation or partnership are devoted, in a proportion of at least 75%, to carrying out qualified international financial transactions as part of the operations of a business of the corporation or partnership which constitutes or shall constitute an international financial centre.

The employee to whom the first paragraph refers is

(1)  an employee who, before 31 March 2010, entered into an employment contract with the corporation or partnership with a view to performing the duties referred to in the first paragraph and who begins to hold the employment before 1 July 2010; or

(2)  an employee who, on 30 March 2010, is an individual described in section 66 who holds employment with the corporation or partnership and whose reference period determined under section 69 ends after that date but before 1 January 2013, if the corporation did not make an election under the fourth paragraph of section 1029.8.36.166.62 of the Taxation Act (chapter I-3), or 1 January 2014 in any other case.

The qualification certificate is valid only from the date or, as the case may be, for the period indicated thereon.

1999, c. 86, s. 15; 2002, c. 40, s. 2; 2005, c. 23, s. 5; 2011, c. 1, s. 3.

2005-06-17

15. The Minister shall issue to a corporation or partnership a qualification certificate recognizing one of its employees as an employee other than a foreign specialist, upon being satisfied that it may reasonably be expected that from the date or for the period indicated on the qualification certificate, the employee’s duties with the corporation or partnership are devoted, in a proportion of at least 75%, to carrying out qualified international financial transactions as part of the operations of a business of the corporation or partnership which constitutes or shall constitute an international financial centre.

The qualification certificate is valid only from the date or, as the case may be, for the period indicated thereon.

1999, c. 86, s. 15; 2002, c. 40, s. 2; 2005, c. 23, s. 5.

2002-10-17

15. The Minister shall issue to a corporation or partnership a qualification certificate recognizing one of its employees as an employee, other than a foreign specialist, upon being satisfied that it may reasonably be expected that from the date or for the period indicated on the qualification certificate, the employee’s duties with the corporation or partnership are 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.

The qualification certificate is valid only from the date or, as the case may be, for the period indicated thereon.

1999, c. 86, s. 15; 2002, c. 40, s. 2.

1999-12-20

15. The Minister shall issue to a corporation or partnership a qualification certificate recognizing one of its employees as an employee other than a foreign specialist upon being satisfied that it may reasonably be expected that from the date or for the period indicated on the qualification certificate,

(1)  the employee’s duties with the corporation or partnership consist, in a proportion of at least 75 %, of one or more of the following activities carried on in the course of the operations of a business of the corporation or partnership which constitutes or will constitute an international financial centre :

(a)  carrying out qualified international financial transactions, other than back office activities,

(b)  assisting, by means of specific expertise in the field of qualified international financial transactions, an individual who carries out such transactions, other than back office activities,

(c)  directing or supervising the activities of an individual who carries out qualified international financial transactions, other than back office activities, or

(2)  the employee is a member of the strategic personnel of the business described in paragraph 1 and the employee’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 from the date or, as the case may be, for the period indicated thereon.

1999, c. 86, s. 15.