Canadian Ownership and Control Determination Regulations, 1984 — 2
nt or by an investor that is equity-related to the applicant, (b) who is not equity-related to the applicant, and (c) who owns formal equity of the applicant or the investor referred to in paragraph (a); ( investisseur primaire ) public entity means an entity with one or more publicly traded classes of formal equity, all the units of which would, if owned by one person, represent a direct equity percentage of 15% or more in respect of the entity; ( entité publique ) publicly traded class of formal equity or publicly traded class of forward equity means a class of formal equity or a class of forward equity, as the case may be, any unit of which is traded in the open market in the manner in which a unit thereof would normally be traded in the open market by a member of the public; ( catégorie de participation ordinaire librement négociable or catégorie de participation à terme librement négociable ) published market means a Canadian stock exchange on which units of a publicly traded class of formal equity are listed or any other market on which such units are traded, if the prices at which they have been traded on that other market are regularly published in a bona fide newspaper or in a business or financial publication of general distribution and regular paid circulation; ( cours affiché du marché ) recorded owner means the owner of record of formal equity of an entity; ( possesseur inscrit ) revised unit holders list means a revised unit holders list prepared pursuant to section 4; ( liste révisée des détenteurs d’unités ) secondary investor means, with respect to an applicant, an investor (a) of whom an inquiry is made by another investor that is not equity-related to the applicant, and (b) who owns formal equity of the investor making the inquiry; ( investisseur secondaire ) significant holding [Revoked, SOR/85-847, s. 1] small applicant means an applicant that is an entity (a) that has total assets calculated in accordance with section 9 of less than $50,000,000, (b) [Revoked, SOR/85-847, s. 1] (c) that has no knowledge or reason to believe that the Canadian ownership rate of the entity that would be determined under the Act and these Regulations, if section 14 did not apply, is less than 75%, and (d) that has no units listed, registered or qualified for trading on a stock exchange or other trading facility, other than a Canadian stock exchange or Canadian trading facility, as a consequence of an application for such listing, registration or qualification made by the entity or in which the entity has participated directly or indirectly; ( petit demandeur ) stock of responsibility means all or part of a publicly traded class of formal equity designated as the stock of responsibility of a market-maker in accordance with the rules of The Toronto Stock Exchange or substantially similar rules of any other Canadian stock exchange; ( charge de contrepartiste ) unit means (a) in relation to a class of formal equity of an entity, subject to subsection 5(3) and Part VI, any particular share, right or interest that is formal equity of that entity, and (b) in relation to a class of forward equity of an entity, any instrument other than an agreement described in section 23, that confers a right to acquire units of a class of formal equity of that entity, other than a right that may be terminated prior to the commencement of the period during which the right may be exercised; ( unité ) unit holders list means a record kept by or on behalf of an entity that identifies the recorded owners of units of a class of formal equity or units of a class of forward equity of that entity; ( registre ) unit trust means a trust under which the interest of a beneficiary is measured by reference to one or more defined shares, whether of one or more classes, in the property of the trust. ( fiducie d’investissement à participation unitaire ) (2) Subject to subsection (2.1), for the purpose of determining whether a person has a number of units of a class o