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S-29.1 - Act respecting Québec business investment companies

Section 5
Disposition versions

Full text
5. For the purposes of this Act, a common share with full voting rights is a common share within the meaning of section 1 of the Taxation Act (chapter I-3) to which are attached a number of voting rights in the issuing legal person, in all circumstances and regardless of the number of shares held, which is not less than the number attached to any other share of the share capital of the legal person.
Notwithstanding the first paragraph and unless the body designated under section 1 decides otherwise, where shares of a particular class or of a particular series of a particular class of the share capital of a company are, on 30 April 1987 or at the time of registration in the case of a company registered after that date, the only common shares with full voting rights of the share capital of the company and where, by reason of a change in the share capital of the company,
(1)  a new series of the particular class is created or a new class is created and the shares of that series or of that class would be, but for this paragraph, common shares with full voting rights, or
(2)  any share of the particular class or of the particular series would no longer be, but for this paragraph, a common share with full voting rights,
the following rules apply:
(1)  any share of the particular class or of the particular series is deemed to be a common share with full voting rights;
(2)  every other share of the share capital of the company is deemed not to be a common share with full voting rights.
Notwithstanding the first paragraph, the body may determine the class or series of shares of the share capital of a company whose shares are common shares with full voting rights where, on 30 April 1987 or at the time of registration in the case of a company registered after that date, the shares of several classes or of several series of a class of the share capital of the company would be, but for this paragraph, common shares with full voting rights.
1985, c. 9, s. 5; 1986, c. 15, s. 227; 1986, c. 113, s. 2; 1987, c. 106, s. 2; 1998, c. 17, s. 64; 1999, c. 40, s. 305; 2010, c. 37, s. 124.
5. For the purposes of this Act, a common share with full voting rights is a common share within the meaning of section 1 of the Taxation Act (chapter I-3) to which are attached a number of voting rights in the issuing legal person, in all circumstances and regardless of the number of shares held, which is not less than the number attached to any other share of the share capital of the legal person.
Notwithstanding the first paragraph and unless Investissement Québec decides otherwise, where shares of a particular class or of a particular series of a particular class of the share capital of a company are, on 30 April 1987 or at the time of registration in the case of a company registered after that date, the only common shares with full voting rights of the share capital of the company and where, by reason of a change in the share capital of the company,
(1)  a new series of the particular class is created or a new class is created and the shares of that series or of that class would be, but for this paragraph, common shares with full voting rights, or
(2)  any share of the particular class or of the particular series would no longer be, but for this paragraph, a common share with full voting rights,
the following rules apply:
(1)  any share of the particular class or of the particular series is deemed to be a common share with full voting rights;
(2)  every other share of the share capital of the company is deemed not to be a common share with full voting rights.
Notwithstanding the first paragraph, Investissement Québec may determine the class or series of shares of the share capital of a company whose shares are common shares with full voting rights where, on 30 April 1987 or at the time of registration in the case of a company registered after that date, the shares of several classes or of several series of a class of the share capital of the company would be, but for this paragraph, common shares with full voting rights.
1985, c. 9, s. 5; 1986, c. 15, s. 227; 1986, c. 113, s. 2; 1987, c. 106, s. 2; 1998, c. 17, s. 64; 1999, c. 40, s. 305.
5. For the purposes of this Act, a common share with full voting rights is a common share within the meaning of section 1 of the Taxation Act (chapter I-3) to which are attached a number of voting rights in the issuing corporation, in all circumstances and regardless of the number of shares held, which is not less than the number attached to any other share of the share capital of the corporation.
Notwithstanding the first paragraph and unless Investissement-Québec decides otherwise, where shares of a particular class or of a particular series of a particular class of the share capital of a company are, on 30 April 1987 or at the time of registration in the case of a company registered after that date, the only common shares with full voting rights of the share capital of the company and where, by reason of a change in the share capital of the company,
(1)  a new series of the particular class is created or a new class is created and the shares of that series or of that class would be, but for this paragraph, common shares with full voting rights, or
(2)  any share of the particular class or of the particular series would no longer be, but for this paragraph, a common share with full voting rights,
the following rules apply:
(1)  any share of the particular class or of the particular series is deemed to be a common share with full voting rights;
(2)  every other share of the share capital of the company is deemed not to be a common share with full voting rights.
Notwithstanding the first paragraph, Investissement-Québec may determine the class or series of shares of the share capital of a company whose shares are common shares with full voting rights where, on 30 April 1987 or at the time of registration in the case of a company registered after that date, the shares of several classes or of several series of a class of the share capital of the company would be, but for this paragraph, common shares with full voting rights.
1985, c. 9, s. 5; 1986, c. 15, s. 227; 1986, c. 113, s. 2; 1987, c. 106, s. 2; 1998, c. 17, s. 64.
5. For the purposes of this Act, a common share with full voting rights is a common share within the meaning of section 1 of the Taxation Act (chapter I-3) to which are attached a number of voting rights in the issuing corporation, in all circumstances and regardless of the number of shares held, which is not less than the number attached to any other share of the share capital of the corporation.
Notwithstanding the first paragraph and unless the Société de développement industriel du Québec decides otherwise, where shares of a particular class or of a particular series of a particular class of the share capital of a company are, on 30 April 1987 or at the time of registration in the case of a company registered after that date, the only common shares with full voting rights of the share capital of the company and where, by reason of a change in the share capital of the company,
(1)  a new series of the particular class is created or a new class is created and the shares of that series or of that class would be, but for this paragraph, common shares with full voting rights, or
(2)  any share of the particular class or of the particular series would no longer be, but for this paragraph, a common share with full voting rights,
the following rules apply:
(1)  any share of the particular class or of the particular series is deemed to be a common share with full voting rights;
(2)  every other share of the share capital of the company is deemed not to be a common share with full voting rights.
Notwithstanding the first paragraph, the Société de développement industriel du Québec may determine the class or series of shares of the share capital of a company whose shares are common shares with full voting rights where, on 30 April 1987 or at the time of registration in the case of a company registered after that date, the shares of several classes or of several series of a class of the share capital of the company would be, but for this paragraph, common shares with full voting rights.
1985, c. 9, s. 5; 1986, c. 15, s. 227; 1986, c. 113, s. 2; 1987, c. 106, s. 2.
5. For the purposes of this Act, a common share with full voting rights is a common share within the meaning of section 1 of the Taxation Act (chapter I-3) to which are attached a number of voting rights in the issuing corporation, in all circumstances and regardless of the number of shares held, which is not less than the number attached to any other share of the share capital of the corporation.
1985, c. 9, s. 5; 1986, c. 15, s. 227; 1986, c. 113, s. 2.
5. For the purposes of this Act, a common share with full voting rights is a common share within the meaning of section 1 of the Taxation Act (chapter I-3) to which are attached a number of voting rights in the issuing corporation, in all circumstances and regardless of the number of shares held, which is not less than the number attached to any other share of the share capital of the corporation, and is issued in such circumstances that the holder cannot avoid exercising a real influence over the management of the corporation, from the fact that its issuance is preceded or may be followed by the issuance of shares carrying voting rights at considerably less cost per voting right.
1985, c. 9, s. 5; 1986, c. 15, s. 227.
5. For the purposes of this Act, a common share with full voting rights is a common share to which are attached a number of voting rights in the issuing corporation, in all circumstance and regardless of the number of shares held, which is not less than the number attached to any other share of the share capital of the corporation.
1985, c. 9, s. 5.
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