Excise Tax Act — E-15 141.02
spect of each direct input, excluded input, exclusive input and non-attributable input of the person; and (b) be filed by the person with the Minister in prescribed manner on or before (i) the day that is 180 days before the first day of the fiscal year to which the application applies, or (ii) any later day that the Minister may allow on application by the person. Authorization (20) On receipt of an application made under subsection (18), the Minister shall (a) consider the application and authorize or deny the use of the particular methods; and (b) notify the person in writing of the decision on or before (i) the later of (A) the day that is 180 days after that receipt, and (B) the day that is 180 days before the first day of the fiscal year to which the application applies, or (ii) any later day that the Minister may specify, if the day is set out in a written application filed by the person with the Minister. Effect of authorization (21) For the purposes of this Part, if the Minister under subsection (20) authorizes the use of particular methods for a fiscal year of the person, (a) the particular methods shall be used consistently, and as indicated in the application, by the person throughout the fiscal year to determine the operative extent and the procurative extent of each business input of the person; and (b) subsections (6) to (15) and (27) do not apply, for the fiscal year, in respect of any business input of the person. Reasons for denial (22) If the Minister denies under subsection (20) the use of the particular methods specified in an application made under subsection (18) and the person has, in respect of the application, complied with the requirements set out in subsection (19) and provided to the Minister all requested information within any reasonable time set out in the written notice requesting the information, the Minister shall notify the person in writing of the reasons for not authorizing the use of the particular methods on or before the particular day that is the later of (a) the day that is 60 days after the day the person last provided any requested information to the Minister; and (b) the day on or before which the notification of the decision is required to be given to the person under subsection (20). Revocation (23) An authorization granted under subsection (20) to a person in respect of a fiscal year of the person ceases to have effect on the first day of the fiscal year and, for the purposes of this Part, is deemed never to have been granted, if (a) the Minister revokes the authorization and sends a notice of revocation to the person on or before the day that is 60 days before the day that is the first day of the fiscal year; (b) the person files in prescribed manner with the Minister a notice of revocation in prescribed form containing prescribed information on or before the day that is 60 days before the first day of the fiscal year; or (c) the person is not a qualifying institution for the fiscal year. Application to be designated a qualifying institution (24) A person may apply to the Minister, in prescribed form containing prescribed information, to be designated as a qualifying institution for a particular fiscal year of the person if (a) the person is, or is reasonably expected to be, a financial institution of a prescribed class throughout the particular fiscal year; and (b) it is the case that (i) the person has two fiscal years immediately preceding the particular fiscal year and, for each of those two fiscal years, the adjusted tax credit amount of the person equals or exceeds, or is reasonably expected to equal or exceed, the prescribed amount for that class for the particular fiscal year, or (ii) an authorization under subsection (20) for the particular fiscal year has ceased to have effect only because of the application of paragraph (23)(c). Effect of approval (25) On receipt of the application made under subsection (24) in respect of a fiscal year of a person, the Minister shall