I-3, r. 1 - Regulation respecting the Taxation Act

Article 1r1 Versions de la disposition

2024-12-05

1R1. For the purposes of the definition of “share” in section 1 of the Act, a prescribed cooperative means a cooperative incorporated under a statute of Québec, of another province or of Canada for the purpose of marketing natural products belonging to or acquired from its members or customers, of carrying out any processing operation required for or related to that marketing, of purchasing supplies, equipment or essential household items for or to be sold to its members or customers or of providing services to them, that meets the following conditions:

a)  the statute under which it was incorporated, its charter, articles of association or by-laws or its contracts with its members or customers held out the prospect that payments would be made to them in proportion to patronage;

b)  none of the members, except other cooperatives, have more than one vote in the conduct of the corporation’s affairs;

c)  at least 90% of the members are individuals, other cooperatives, or corporations or partnerships that carry on the business of farming; and

d)  at least 90% of its shares are held by members described in paragraph c or by trusts governed by registered education savings plans, registered retirement income funds, registered retirement savings plans or tax-free savings accounts, the annuitants, subscribers or holders under which are members described in that paragraph.

s. 1R1.1; O.C. 67-96, s. 1; O.C. 134-2009, s. 1; S.Q. 2024, c. 41, s. 217.

2012-09-01

1R1. For the purposes of the definition of “share” in section 1 of the Act, a prescribed cooperative means a cooperative described in section 119.2R2.

s. 1R1.1; O.C. 67-96, s. 1; O.C. 134-2009, s. 1.