2 These Regulations apply only to capital leases that are entered into after the coming into force of these Regulations and that are registered with the Minister in accordance with these Regulations.
1 (1) The definitions in this subsection apply in these Regulations.
aggregate outstanding balance means the aggregate, calculated on the day on which a capital lease is entered into or is amended as a result of improvements to the equipment, of
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(b) the outstanding balance of any other capital lease registered with the Minister in accordance with these Regulations, and
lessor means
(a) a member of the Canadian Payments Association established by subsection 3(1) of the Canadian Payments Act
(ii) as set out in any of paragraphs 4(2)(d) to (h) of that Act, if the member provides, with their application to be a lessor under these Regulations, their Canadian Payments Association transit number and a certificate issued by the member’s external auditor stating that the member has been a commercial lessor in Canada for the past five years;
(d) any other organization designated by the Minister as a lessor for the purposes of these Regulations. (locateur)
(2) For the purposes of these Regulations, the provisions of the Income Tax Act apply to the determination of whether a person is dealing at arm’s length with another person.
(3) For the purposes of these Regulations, a lessee is related to another lessee or borrower if
(5) Despite subsection (3), a lessee is not related to another lessee or borrower for the purposes of these Regulations if their businesses are located at different premises and neither derives more than 25% of their actual or projected gross revenues from the other.
(6) For the purposes of these Regulations, a capital lease is considered to have been entered into on the day on which it is signed by the lessee and the lessor.
49 These Regulations shall cease to have effect on April 1, 2007.
4 These Regulations do not apply to a capital lease if the capital lease is to provide
(2) These Regulations apply to a capital lease if
