Canadian Telecommunications Common Carrier Ownership and Control Regulations (SOR/94-667)

4 (1) For the purpose of determining whether voting shares are beneficially owned by a person or entity who is a Canadian, and the number of such shares, there may included in the determination, without requiring further evidence that the person or entity is a Canadian,

• (a) subject to subsection (3), voting shares registered in the name of a shareholder, other than a depository, whose latest address as shown in the security register or on the books or records of the corporation or the corporation’s transfer agent or registrar is in Canada;

• (b) subject to subsection (2), voting shares held by a depository, whose head office and principal place of business are in Canada, on behalf of the person or entity and in respect of which the depository has filed an affidavit or declaration, at any time within the 12 months preceding the determination, that states the number of voting shares that are held by the depository on behalf of the person or entity and that the latest address of the person or entity, as shown on the books or records of the depository, is in Canada; and

• (c) subject to subsection (3), voting shares of a shareholder who has established, by way of an affidavit or declaration that is filed within the 12 months preceding the determination, that the shareholder is a Canadian.

(2) Where the directors of a corporation have information concerning the beneficial ownership of shares that are held by a depository referred to in paragraph (1)(b) that causes the directors to believe that, at the time of the determination referred to in subsection (1), the shareholder who is the beneficial owner of the voting shares is not a Canadian or is considered to be a non-Canadian pursuant to these Regulations, the directors shall not include those voting shares in the determination until the directors have received an affidavit or declaration that establishes that the beneficial owner thereof is a Canadian and continues to be considered by these Regulations to be a Canadian.

(3) Where the directors of a corporation have information concerning the beneficial ownership of the voting shares by a shareholder referred to in paragraph (1)(a) or (c), that causes the directors to believe that, at the time of the determination referred to in subsection (1), the shareholder who is the beneficial owner of the voting shares is not a Canadian or is considered to be a non-Canadian pursuant to these Regulations, the directors shall not include the voting shares of the shareholder in the determination until the directors have received an affidavit or declaration that establishes that the beneficial owner thereof is a Canadian and continues to be considered by these Regulations to be a Canadian.