3 These Regulations apply for the purpose of determining or calculating the Canadian ownership rate in respect of any application filed on or after June 1, 1984.
1 These Regulations may be cited as the Canadian Ownership and Control Determination Regulations, 1984.
7 (1) For the purposes of these Regulations, equity-related persons or persons equity-related to each other means
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(2) Where two entities are equity-related to the same entity, the entities are, for the purposes of these Regulations, equity-related to each other.
(3) For the purposes of these Regulations,
(4) For the purposes of these Regulations,
5 (1) For the purposes of these Regulations,
(2) For the purposes of these Regulations, an applicant or investor may elect that additional units of a class of formal equity issued on or after any day selected by that applicant or investor in respect of that class under paragraph 30(1)(c) shall constitute a separate class of formal equity.
(4) For the purposes of these Regulations, a class of forward equity comprises all units the attributes of which are identical and that were issued on the same day and at the same price if any.
(2) For the purposes of subsection (1), where the most recently completed fiscal period of an entity ended not earlier than 180 days prior to the day on which an application is filed by the entity in substantial compliance with the Act and these Regulations and no balance sheet is available for that fiscal period, the immediately preceding completed fiscal period of the entity is its most recently completed fiscal period.
(3) An entity that does not have a completed fiscal period may, for the purposes of subsection (1), elect that a period commencing on the day it commenced doing business and ending on any day not earlier than 180 days prior to the date on which an application is filed by the entity in substantial compliance with the Act and these Regulations shall be its most recently completed fiscal period.
(4) Where, in the opinion of the Minister, the total assets shown on the balance sheet or consolidated balance sheet of an entity do not fairly represent the total assets of that entity, the Minister may, for the purposes of these Regulations, adjust those assets in the manner he considers appropriate.
