Canada Development Corporation Reorganization Act — C-3.4 5
trolled directly or indirectly by the other; (c) one is a partnership of which the other is a partner; (d) both are corporations and one is directly or indirectly controlled by the same government in Canada, foreign government, individual or corporation that directly or indirectly controls the other; (e) both are members of a voting trust that relates to securities of the Corporation; (f) one is a corporation and the other is an associate, within the meaning of paragraphs (a) to (e), of one or more other persons and, together with those other persons, owns more than fifty per cent of the voting shares of that corporation; (g) both are associates within the meaning of paragraphs (a) to (f) of the same resident or non-resident; or (h) both are parties to an agreement or arrangement, a purpose of which, in the opinion of the Board of Directors of the Corporation, is to require the parties to act in concert with respect to their interests in the Corporation. Exceptions (7) Notwithstanding subsection (6), for the purposes of this section, (a) where a person who is a resident and who, but for this paragraph, would be an associate of a resident or non-resident submits to the Corporation a declaration stating that no securities of the Corporation held by him or to be held by him to which are attached votes that may ordinarily be cast to elect directors of the Corporation is or will be, to his knowledge, held in the right of, or for the use or benefit of, himself or any resident or non-resident of whom, but for this paragraph, he would be an associate, that person and that resident or non-resident are not associates so long as any such securities held by the person who made the declaration are not held contrary to the statements made in the declaration; (b) two corporations are not associates by virtue of paragraph (6)(g) by reason only that under paragraph (6)(a) each is an associate of the same resident or non-resident; and (c) where it appears from the central securities register of the Corporation that a person holds or beneficially owns, otherwise than by way of security only, securities to which are attached not more than two thousand votes that may ordinarily be cast to elect directors of the Corporation, that person is not an associate of any other person and no other person is an associate of that person. Application (8) Paragraphs (7)(a) and (c) do not apply to Her Majesty in right of Canada or a province or any agent of, or corporation owned or controlled by, Her Majesty in either such right. Reference to Her Majesty (9) A reference in this section to a “person” includes a reference to Her Majesty in right of Canada or a province and any agent of Her Majesty in either such right. Definitions (10) In this section, corporation includes a body corporate, association, partnership or other organization; ( société ) non-resident means (a) an individual, other than a Canadian citizen, who is not ordinarily resident in Canada, (b) a corporation incorporated, formed or otherwise organized outside Canada, (c) the government of a foreign state or any political subdivision thereof, or a person empowered to perform a function or duty on behalf of such a government, (d) a corporation that is controlled directly or indirectly by non-residents as defined in any of paragraphs (a) to (c), (e) a trust (i) established by a non-resident as defined in any of paragraphs (b) to (d), other than a trust for the administration of a pension fund for the benefit of individuals a majority of whom are residents, or (ii) in which non-residents as defined in any of paragraphs (a) to (d) have more than fifty per cent of the beneficial interest, or (f) a corporation that is controlled directly or indirectly by a trust described in paragraph (e); ( non-résident ) resident means an individual, corporation, government or trust that is not a non-resident and includes Her Majesty in right of Canada or a province and any agent of Her Majesty in either such right. (