Canadian Ownership and Control Determination Regulations, 1984 — 30
30 (1) For the purposes of section 41 of the Act, information and documentation relating to the Canadian ownership rate on which an application for a certificate is based shall be current as of a day or days determined as follows: (a) subject to paragraphs (b) and (c), all information and documentation relating to the determination of the Canadian ownership rate of an applicant shall be current as of the day on which the applicant files that information and documentation in the form set out in the Canadian Ownership and Control Determination Forms Order, 1985 for the purposes of an application; (b) subject to paragraph (c) and subsection (2), all information and documentation relating to the determination of the Canadian ownership rate of an investor shall be current as of the day on which the investor provides the applicant or another investor with the information set out in the Canadian Ownership and Control Determination Forms Order, 1985 for the purposes of an application; (c) information and documentation (i) relating to the calculation of the beneficial Canadian ownership of a class of formal equity of an applicant or investor, other than information referred to in paragraph (e) and including information reflected by entries on the unit holders list, and the revised unit holders list, or (ii) that reflects any shareholders list, list of members, and records of liabilities relating to the determination of the Canadian ownership rate of an applicant or investor pursuant to paragraph 12(1)(c), (d), (e), (f), (g) or subsection 16(5), shall, subject to paragraphs (d) and (e), be current as of the close of business on a day selected by the applicant or investor that is not more than 180 days prior to the date the application or amended application is filed in substantial compliance with the Act and these Regulations; (d) an applicant or investor may elect that information and documentation relating to the ownership of a unit of a class of formal equity that is part of a measured block shall be current (i) in the case of an applicant, as of the day set out in paragraph (a), and (ii) in the case of an investor, as of the day set out in paragraph (b); and (e) in determining whether two or more entities are equity-related, information and documentation relating to ownership of units of a class of formal equity of an entity shall be current on a day selected by the applicant that is not more than 180 days prior to the day the application or amended application is filed in substantial compliance with the Act and Regulations. (2) For purposes of an application or an amended application, in this section referred to as “the present application”, an investor may elect that information and documentation (a) described in paragraph (1)(c) in respect of the investor, and (b) described in paragraph (1)(b) or (c) in respect of any other relevant investor shall be current as of the day or days referred to in section 41 of the Act in respect of the investor for the purposes of another application, in this section referred to as “the earlier application”, if (c) an applicant or another investor was first provided with the information and documentation in the appropriate form prescribed by order of the Minister for the purposes of an application under the Act on a day that is not more than 18 months prior to the day on which the investor provides the applicant or investor with that information for the purposes of the present application, (d) where the investor making the election is equity-related to an applicant, the investor was equity-related to the applicant that filed the earlier application, and (e) the investor has no knowledge or reason to believe that the Canadian ownership rate that would be determined if no election were made under this subsection 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 applicat