Canadian Ownership and Control Determination Regulations, 1984 — 30
bsection would be (i) where the investor is not equity-related to the applicant, ten or more percentage points less than the Canadian ownership rate determined for the purposes of the earlier application, and (ii) where the investor is equity-related to the applicant, one or more percentage points less than the Canadian ownership rate determined for the purposes of the earlier application, or (f) where an investor determined its relevant Canadian ownership rate for the purposes of the earlier application (the “earlier rate”) in accordance with the Act and the Canadian Ownership and Control Determination Regulations , the investor has no knowledge or reason to believe that the Canadian ownership rate calculated for purposes of the present application if those Regulations applied would be less than the earlier rate by the number of percentage points referred to in subparagraph 2(e)(i) or 2(e)(ii). (3) Where paragraph (2)(f) applies the investor may elect to calculate the beneficial Canadian ownership of that class of formal equity or determine its Canadian ownership rate, as the case may be, in accordance with those Regulations read as though paragraph 11(1)(a) were deleted therefrom. (4) For the purposes of subsection (2), “equity-related” with reference to the earlier application shall have the meaning attributed to that term for the purposes of that application. (5) For the purposes of an amended application made pursuant to subsection 43(3) of the Act, the holder of a certificate may elect that all information and documentation relevant for the purposes of the calculation of the beneficial Canadian ownership of a class of formal equity shall be current as of the day or days referred to in subsection (1) for the purposes of the application or amended application pursuant to which the certificate was issued. (6) For the purposes of an amended application made pursuant to paragraph 43(1)(b) of the Act, information and documentation shall be current as of the day or days referred to in subsection 32(3). (7) Subject to subsection (8), for the purposes of an application made by a corporation, in this section referred to as “the amalgamated corporation”, that is the product of an amalgamation of a corporation, in this section referred to as “the amalgamating corporation”, that is, immediately prior to the time at which the amalgamation becomes effective, the holder of a current certificate under the Act, in this section referred to as “the prior certificate”, and one or more other corporations, the amalgamated corporation may elect, that where any information described in paragraph (1)(c) pertaining to the amalgamated corporation as at a time immediately after the time at which the amalgamation becomes effective may be determined with reference to information pertaining to the amalgamating corporation as at a time specified in the amalgamation agreement, such information pertaining to the amalgamating corporation and information and documentation described in paragraph (1)(b) or (c) in respect of any relevant investor shall be current as of the day or days referred to in subsection (1) for the purposes of the prior certificate. (8) Subsection (7) does not apply unless the application by the amalgamated corporation requests for an effective period for the new certificate that expires not later than the earliest expiry date of any of the prior certificates held by all amalgamating corporations. SOR/85-847, s. 14