Income Tax Act — I-3.3 248
controlled by a particular person if each membership share of the capital stock of the corporation that is owned by a qualifying cooperative worker were owned by the particular person, (e) at least 75% of all individuals employed by the corporation and all qualifying cooperative businesses controlled by the corporation (other than an employee who has not completed an applicable probationary period, which may not exceed 12 months) are holders of a membership share of the corporation, (f) each initial membership share provided to an employee of the corporation and any qualifying cooperative business controlled by the corporation is (i) issued in exchange for a payment of a nominal amount determined in the same manner for all members described in the definition qualifying cooperative worker , and (ii) offered to each employee following their completion of an applicable probationary period, which may not exceed 12 months, (g) at least one-third of the directors of the corporation are qualifying cooperative workers of the corporation, (h) not more than 40% of the directors of the corporation consist of individuals each of whom, immediately before the time of a qualifying cooperative conversion that involved the corporation, owned, directly or indirectly, together with any person or partnership that is related to or affiliated with the director, 50% or more of the fair market value of the shares of the capital stock or indebtedness of the corporation or a qualifying cooperative business controlled by the corporation, and (i) the by-laws of the corporation provide a procedure for allocating, crediting or distributing any surplus earnings of the corporation, including that not less than 50% of those earnings must be paid on the basis of the remuneration earned by the qualifying cooperative workers from the corporation or the labour contributed by those members to the corporation; ( coopérative de travailleurs ) zero-emission passenger vehicle , of a taxpayer, means an automobile of the taxpayer that is included in Class 54 of Schedule II to the Income Tax Regulations ; ( voiture de tourisme zéro émission ) zero-emission vehicle , of a taxpayer, means a motor vehicle that (a) is a plug-in hybrid that meets prescribed conditions or is fully (i) electric, or (ii) powered by hydrogen, (b) is acquired, and becomes available for use, by the taxpayer after March 18, 2019 and before 2034, (c) does not meet any of the following conditions: (i) it is a vehicle in respect of which the taxpayer has, at any time, made an election under subsection 1103(2j) of the Income Tax Regulations , (ii) it is a vehicle in respect of which assistance has been paid by the Government of Canada under a prescribed program, and (iii) if the vehicle was acquired before March 2, 2020, either (A) it has been used, or acquired for use, for any purpose before it was acquired by the taxpayer, or (B) it is a vehicle in respect of which an amount has been deducted under paragraph 20(1)(a) or subsection 20(16) by another person or partnership, and (d) would be an accelerated investment incentive property or a reaccelerated investment incentive property of the taxpayer if subsections 1104(4) and (4.01) of the Income Tax Regulations were read without their exclusions for property included in Class 54 or Class 55 of Schedule II to those Regulations. ( véhicule zéro émission ) Non-disposition before December 24, 1998 (1.1) A redemption, an acquisition or a cancellation, at any particular time after 1971 and before December 24, 1998, of a share or of a right to acquire a share (which share or which right, as the case may be, is referred to in this subsection as the “security”) of the capital stock of a corporation (referred to in this subsection as the “issuing corporation”) held by another corporation (referred to in this subsection as the “disposing corporation”) is not a disposition (within the meaning of the definition disposition in section 54 as that section read in its ap