Income Tax Act — I-3.3 204.8
bed labour-sponsored venture capital corporations) related to it (determined in accordance with generally accepted accounting principles on a consolidated or combined basis, where applicable) did not exceed $50,000,000, and (ii) the total of (A) the number of employees of the eligible business entity and all corporations related to it who normally work at least 20 hours per week for the entity and the related corporations, and (B) 1/2 of the number of other employees of the entity and the related corporations, did not exceed 500; (g) [Repealed, 1998, c. 19, s. 51(1)] ( placement admissible ) eligible labour body means a trade union, as defined in the Canada Labour Code, that represents employees in more than one province, or an organization that is composed of 2 or more such unions; ( organisme syndical admissible ) labour-sponsored funds tax credit [Repealed, 1997, c. 25, s. 55(1)] national central labour body [Repealed, 1994, c. 7, Sch. VIII, s. 118(2)] original acquisition of a share has the meaning assigned by subsection 127.4(1); ( acquisition initiale ) original purchaser [Repealed, 1997, c. 25, s. 55(2)] registered labour-sponsored venture capital corporation [Repealed, 1997, c. 25, s. 55(1)] reserve means (a) property described in any of paragraphs (a), (b), (c), (f) and (g) of the definition qualified investment in section 204, and (b) deposits with a credit union that is a member institution in relation to a deposit insurance corporation (within the meaning assigned by subsection 137.1(5)); ( réserve ) revoked corporation means a corporation the registration of which has been revoked under subsection 204.81(6); ( Version anglaise seulement ) specified active business , at any time, means an active business that is carried on in Canada where (a) at least 50% of the full-time employees employed at that time in respect of the business are employed in Canada, and (b) at least 50% of the salaries and wages paid to employees employed at that time in respect of the business are reasonably attributable to services rendered in Canada by the employees; ( entreprise déterminée exploitée activement ) specified individual , in respect of a share, means an individual (other than a trust) whose labour-sponsored funds tax credit (as defined by subsection 127.4(6)) in respect of the original acquisition of the share is not nil or would not be nil if this Act were read without reference to paragraphs 127.4(6)(b) and 127.4(6)(d). ( particulier déterminé ) start-up period of a corporation means (a) subject to paragraph (c), in the case of a corporation that first issued Class A shares before February 17, 1999, the corporation’s taxation year in which it first issued those shares and the four following taxation years, (b) subject to paragraph (c), in the case of a corporation that first issues Class A shares after February 16, 1999, the corporation’s taxation year in which it first issues those shares and the following taxation year, or (c) where a corporation files an election with its return under this Part for a particular taxation year of the corporation that ends after 1998 and that is referred to in paragraph (a) or (b), the period, if any, consisting of the taxation years referred to in paragraph (a) or (b), as the case may be, other than the particular year and all taxation years following the particular year. ( période de démarrage ) terminating corporation in respect of a particular corporation means a predecessor corporation in circumstances where (a) subsection 204.85(3) applies to a merger of the particular corporation and the predecessor corporation, (b) Class A shares of the particular corporation have been issued to the predecessor corporation in exchange for property of the predecessor corporation, and (c) within a reasonable period of time after the exchange, Class A shareholders of the predecessor corporation receive all of the Class A shares of the particular corporation issued to the predecessor corporation in the co