GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Canadian Telecommunications Common Carrier Ownership and Control Regulations — Canadian Telecommunications Common Carrier Ownership and Control Regulations
holdco principal stock exchange means, at any given time, the stock exchange in Canada on which the highest volume of voting shares of a carrier holding corporation is traded; ( marché boursier principal de la société mère )
Canadian Telecommunications Common Carrier Ownership and Control Regulations — Canadian Telecommunications Common Carrier Ownership and Control Regulations
intermediary means a person or entity, excluding a depository and trustee, that holds a security on behalf of another person or entity; ( intermédiaire )
Canadian Telecommunications Common Carrier Ownership and Control Regulations — Canadian Telecommunications Common Carrier Ownership and Control Regulations
non-Canadian means a person or entity that is not a Canadian; ( non-Canadien )
Canadian Telecommunications Common Carrier Ownership and Control Regulations — Canadian Telecommunications Common Carrier Ownership and Control Regulations
principal stock exchange means, at any given time, the stock exchange in Canada on which the highest volume of voting shares of a Canadian carrier is traded; ( marché boursier principal )
Canadian Telecommunications Common Carrier Ownership and Control Regulations — Canadian Telecommunications Common Carrier Ownership and Control Regulations
qualified corporation means a corporation in which those of its shareholders who are Canadians beneficially own, and control, in the aggregate and otherwise than by way of security only, not less than 66 2/3 per cent of the issued and outstanding voting shares, and which is not otherwise controlled by non-Canadians; ( personne morale qualifiée )
Canadian Telecommunications Common Carrier Ownership and Control Regulations — Canadian Telecommunications Common Carrier Ownership and Control Regulations
qualified mutual insurance company means a mutual insurance company the head office and principal place of business of which are in Canada, and not less than 80 per cent of the board and of each committee of its directors of which are individual Canadians; ( société mutuelle d’assurance qualifiée )
Canadian Telecommunications Common Carrier Ownership and Control Regulations — Canadian Telecommunications Common Carrier Ownership and Control Regulations
qualified partnership means a partnership in which those of its partners who are Canadians beneficially own, and control, in the aggregate and otherwise than by way of security only, not less than 66 2/3 per cent of the beneficial interest in the partnership, and which is not otherwise controlled by non-Canadians; ( société de personnes qualifiée )
Canadian Telecommunications Common Carrier Ownership and Control Regulations — Canadian Telecommunications Common Carrier Ownership and Control Regulations
qualified pension fund society means a pension fund society the majority of whose members of its board of directors are individual Canadians, and that is established under An Act to Incorporate the Pension Fund Society of the Dominion Bank , S.C. 1887, c. 55; S.C. 1956, c. 66, An Act to Incorporate the Pension Fund Society of the Bank of Montreal , S.C. 1885, c. 13, the Pension Fund Society Act or any provincial legislation relating to the establishment of pension fund societies; ( société de caisse de retraite qualifiée )
Canadian Telecommunications Common Carrier Ownership and Control Regulations — Canadian Telecommunications Common Carrier Ownership and Control Regulations
qualified trust means a trust in which Canadians have not less than 66 2/3 per cent of the beneficial interest, and of which a majority of the trustees are Canadians; ( fiducie qualifiée )
Canadian Telecommunications Common Carrier Ownership and Control Regulations — (a)
voting share means a share of any class of shares of a corporation carrying voting rights under all circumstances or by reason of an event that has occurred and is continuing or by reason of a condition that has been fulfilled, and includes (a) a security that is convertible into such a share at the time a calculation of the percentage of shares owned and controlled by Canadians is made, and (b) an option or a right to acquire such a share, or the security referred to in paragraph (a), that is exercisable at the time the calculation referred to in that paragraph is made. ( action avec droit de vote )
Canadian Telecommunications Common Carrier Ownership and Control Regulations — (a)
Canadian means (a) a citizen within the meaning of subsection 2(1) of the Citizenship Act who is ordinarily resident in Canada, (b) a permanent resident within the meaning of subsection 2(1) of the Immigration Act who is ordinarily resident in Canada, and has been ordinarily resident in Canada for not more than one year after the date on which that person first became eligible to apply for Canadian citizenship, (c) a Canadian government, whether federal, provincial or local, or an agency thereof, (d) a corporation without share capital, where a majority of its directors or officers, as the case may be, are appointed or designated, either by their personal names or by their names of office, by one or more of (i) a federal or provincial statute or regulations made under a federal or provincial statute, (ii) the Governor in Council or the lieutenant governor in Council of a province, or (iii) a minister of the Crown in right of Canada or of a province, (e) a qualified corporation, (f) a qualified trust, (g) a qualified mutual insurance company, (h) a qualified partnership, or (i) a qualified pension fund society. ( Canadien )
Canadian Telecommunications Common Carrier Ownership and Control Regulations — 3
3 For the purposes of these Regulations, (a) where one or more joint beneficial owners of, or persons or entities jointly controlling, voting shares of a corporation are non-Canadians, the voting shares shall be considered to be beneficially owned, or controlled, as the case may be, by non-Canadians; (b) the beneficial interest of a beneficiary in a trust shall be calculated (i) if such interest is vested, in the proportion that the fair market value of such interest in the trust’s business, property and assets bears to the fair market value of all of the trust’s business, property and assets that is vested in beneficiaries thereof, and (ii) if such interest is discretionary, in the proportion of the fair market value of all of the trust’s business, property and assets the disposition of which is discretionary, that the beneficiary bears to the total number of beneficiaries whose interests in the trust are discretionary; (c) the beneficial interest of a partner in a partnership shall be calculated as the proportion that the fair market value of such interest in the partnership bears to the fair market value of all of the interests in the partnership; and (d) where a person or entity who was a Canadian ceases to be a Canadian on any day, or is considered to be a non-Canadian pursuant to subsection 7(5) or 19(5), the day of registration of the voting shares beneficially owned, or controlled, by the person or entity shall be considered to be the earliest of the day on which (i) the person or entity amends its address in the security register or other applicable book or record referred to in these Regulations, to an address outside Canada, (ii) a director or officer of the corporation acquires knowledge that the person or entity is no longer a Canadian, or (iii) the person or entity is considered to be a non-Canadian pursuant to subsection 7(5) or 19(5).
Canadian Telecommunications Common Carrier Ownership and Control Regulations — 4
4 (1) For the purpose of determining whether voting shares are beneficially owned by a person or entity who is a Canadian, and the number of such shares, there may included in the determination, without requiring further evidence that the person or entity is a Canadian, (a) subject to subsection (3), voting shares registered in the name of a shareholder, other than a depository, whose latest address as shown in the security register or on the books or records of the corporation or the corporation’s transfer agent or registrar is in Canada; (b) subject to subsection (2), voting shares held by a depository, whose head office and principal place of business are in Canada, on behalf of the person or entity and in respect of which the depository has filed an affidavit or declaration, at any time within the 12 months preceding the determination, that states the number of voting shares that are held by the depository on behalf of the person or entity and that the latest address of the person or entity, as shown on the books or records of the depository, is in Canada; and (c) subject to subsection (3), voting shares of a shareholder who has established, by way of an affidavit or declaration that is filed within the 12 months preceding the determination, that the shareholder is a Canadian. (2) Where the directors of a corporation have information concerning the beneficial ownership of shares that are held by a depository referred to in paragraph (1)(b) that causes the directors to believe that, at the time of the determination referred to in subsection (1), the shareholder who is the beneficial owner of the voting shares is not a Canadian or is considered to be a non-Canadian pursuant to these Regulations, the directors shall not include those voting shares in the determination until the directors have received an affidavit or declaration that establishes that the beneficial owner thereof is a Canadian and continues to be considered by these Regulations to be a Canadian. (3) Where the directors of a corporation have information concerning the beneficial ownership of the voting shares by a shareholder referred to in paragraph (1)(a) or (c), that causes the directors to believe that, at the time of the determination referred to in subsection (1), the shareholder who is the beneficial owner of the voting shares is not a Canadian or is considered to be a non-Canadian pursuant to these Regulations, the directors shall not include the voting shares of the shareholder in the determination until the directors have received an affidavit or declaration that establishes that the beneficial owner thereof is a Canadian and continues to be considered by these Regulations to be a Canadian.
Canadian Telecommunications Common Carrier Ownership and Control Regulations — 5
5 (1) During the six-month period immediately following the coming into force of these Regulations, (a) any corporation that does not have actual knowledge that those of its shareholders who are non-Canadians beneficially own, and control, in the aggregate and otherwise than by way of security only, more than 33 1/3 per cent of its issued and outstanding voting shares, shall be considered to be a qualified corporation for that period; and (b) any corporation referred to in subsection 17(4) that does not have actual knowledge that those of its shareholders who are non-Canadians beneficially own, and control, in the aggregate and otherwise than by way of security only, more than the appropriate maximum percentage of its issued and outstanding voting shares that is authorized pursuant to that subsection, shall be considered, for that period, to satisfy the criteria respecting the ownership and control of the corporation that are set out in that subsection. (2) Where a corporation that has established, by affidavit or declaration filed within the previous twelve-month period, that it is a qualified corporation, acquires knowledge that those of its shareholders who are Canadians beneficially own, and control, in the aggregate and otherwise than by way of security only, less than 66 2/3 per cent of its issued and outstanding voting shares, the corporation shall be considered to be a qualified corporation for a period of 12 months from the date it first acquires knowledge of the decrease in the proportion of voting shares below that percentage, notwithstanding that the affidavit or declaration would otherwise be valid for a longer period pursuant to subsection 7(4), if (a) at no time during that 12-month period the proportion of voting shares beneficially owned, and controlled, by Canadians decreases more than five per cent from 66 2/3 per cent; and (b) the corporation, immediately on becoming aware that it is deemed to be a qualified corporation pursuant to this section, so advises in writing the Canadian carrier. (3) A corporation referred to in subsection (2), immediately on becoming aware that it is no longer deemed to be a qualified corporation pursuant to that subsection, shall so advise in writing the Canadian carrier.
Canadian Telecommunications Common Carrier Ownership and Control Regulations — 6
6 In this Part, registered holder means the person or entity in whose name shares of a Canadian carrier are registered on the carrier’s security register or on the books or records of the carrier’s transfer agent or registrar. ( détenteur inscrit )
Canadian Telecommunications Common Carrier Ownership and Control Regulations — 7
davit or a declaration made pursuant to subsection (1) shall (a) be given by mail or personal service; and (b) specify a date that is not earlier than 30 days and not later than 60 days after the giving of the request by which the shareholder, trustee, mutual insurance company, partnership, pension fund society, depository or intermediary shall comply with the request. (3) A person or entity to whom a request for an affidavit or declaration is made pursuant to subsection (1) shall file the affidavit or declaration no later than the date specified pursuant to paragraph (2)(b). (4) An affidavit or a declaration filed pursuant to subsection (3) shall be valid for a period of 12 months from the date of filing with the Canadian carrier. (5) Where a director of a Canadian carrier requests an affidavit or a declaration under this section and the person or entity does not file the affidavit or declaration by the date set out in the request, the voting shares of the person or entity in the Canadian carrier shall, effective on the day following the date set out in the request and until the affidavit or declaration is filed, be considered to be beneficially owned by a non-Canadian.
Canadian Telecommunications Common Carrier Ownership and Control Regulations — 8
8 (1) A Canadian carrier may refuse to accept any subscription for, issue, register the transfer of, purchase or otherwise acquire, any of its voting shares unless a declaration is submitted to the Canadian carrier and the Canadian carrier determines that the effect of the information appearing on the declaration, together with any other information in any books or records of the Canadian carrier, its transfer agent or its registrar is that the subscription, issue, transfer, purchase or acquisition would not result in (a) the percentage of the total voting shares that are beneficially owned, and controlled by, non-Canadians exceeding 20 per cent, in the case of a corporation referred to in subsection 16(1) of the Act; or (b) the percentage of the total voting shares that are beneficially owned, and controlled by, non-Canadians exceeding the percentage that were beneficially owned, and controlled, by non-Canadians as at July 22, 1987, in the case of a corporation referred to in subsection 16(2) of the Act. (2) Where the board of a Canadian carrier has information concerning the beneficial ownership, or control, of the Canadian carrier that causes the board to believe that the Canadian carrier is not eligible to operate pursuant to section 16 of the Act and the Canadian carrier intends to take further action pursuant to these Regulations, the Canadian carrier shall, in respect of its voting shares that are publicly traded, immediately make a public announcement to this effect, whether by press release, newspaper advertisement or by any other manner that is reasonably expected to inform the markets in which voting shares are traded, and shall immediately forward a copy of the announcement to the Commission.
Canadian Telecommunications Common Carrier Ownership and Control Regulations — 9
9 (1) The Canadian carrier may, in accordance with section 10, suspend all rights of a shareholder to vote that would otherwise be attached to any voting shares beneficially owned, or controlled, or considered by these Regulations to be beneficially owned, or controlled, by non-Canadians, in the order referred to in subsection (2), so that the proportion of the voting shares beneficially owned, or controlled, or considered by these Regulations to be beneficially owned, or controlled, by non-Canadians and with respect to which voting rights are not suspended, is reduced to (a) not more than 20 per cent of the total issued and outstanding voting shares, in the case of a corporation referred to in subsection 16(1) of the Act; or (b) a percentage that is equal to, or within five percent of, the percentage of the voting shares of the Canadian carrier that were beneficially owned, and controlled, by non-Canadians as at July 22, 1987, in the case of a corporation referred to in subsection 16(2) of the Act. (2) The voting rights referred to in subsection (1) shall be suspended in an order inverse to the date of registration, which shall be considered to be (a) the date of registration of the voting shares on the security register of the Canadian carrier or on the books or records of its transfer agent or registrar; or (b) where the shares are held by an intermediary or a depository, the date of the registration of the transfer of the voting shares on its books or records.
Canadian Telecommunications Common Carrier Ownership and Control Regulations — 10
 carrier of the sale or other disposition, failing which the rights of the shareholder to vote with respect to the excess voting shares will be suspended from that further date. (6) The Canadian carrier shall send to the Commission a copy of (a) the notice referred to in subsection (1) and the notification referred to in subsection (5), at the same time that it is sent to the registered holder; and (b) the written evidence referred to in subsections (2), (3) and (5), immediately on its receipt.
Canadian Telecommunications Common Carrier Ownership and Control Regulations — 11
11 (1) Where, in accordance with these Regulations, the board of a Canadian carrier determines that some of the Canadian carrier’s voting shares are excess voting shares, the Canadian carrier may sell, as if it were the owner thereof, any of those excess voting shares, if the registered holder has been requested to sell the shares and has not done so and the sale is conducted in accordance with these Regulations. (2) The Canadian carrier may sell any excess voting shares (a) on the principal stock exchange; (b) where there is no principal stock exchange, on such other stock exchange or organized market on which the voting shares are listed or traded as the board of the Canadian carrier shall determine; or (c) where the voting shares are not listed or traded on any stock exchange or organized market, in such other manner that is intended to obtain fair market value for the shares as the board of the Canadian carrier shall determine. (3) The net proceeds of the sale of excess voting shares sold in accordance with this section shall be the proceeds after the deduction of any commission, tax or other cost of sale. (4) For all purposes of a sale of excess voting shares, the Canadian carrier is the agent and lawful attorney of the registered holder and of the beneficial owner of the excess voting shares. (5) On completion of the sale of the excess voting shares, any voting rights of those shares that have been suspended shall automatically be restored.
Canadian Telecommunications Common Carrier Ownership and Control Regulations — 12
12 (1) Where the board of the Canadian carrier determines that it is likely that a sale of excess voting shares would have a material adverse effect on the market value of the shares of the Canadian carrier, the Canadian carrier may elect, by resolution of its board, to repurchase or redeem the excess voting shares, without further notice to the registered holder, in accordance with this section and sections 13 and 14. (2) The price paid by the Canadian carrier to repurchase or redeem any excess voting shares shall be (a) the average of the closing price per share of the voting shares for the last 10 trading days during which at least one board lot of voting shares has traded in the period ending on the trading day immediately preceding the date of the redemption or repurchase, on (i) the principal stock exchange, or (ii) where there is no principal stock exchange, such other stock exchange or organized market as the board of the Canadian carrier shall determine on which the required trading has occurred; or (b) calculated on the basis of their fair market value as of the date of the redemption or repurchase, as determined by the board of the Canadian carrier, where the required trading of voting shares referred to in paragraph (a) has not occurred on the principal stock exchange or any other stock exchange or organized market.
Canadian Telecommunications Common Carrier Ownership and Control Regulations — 13
13 (1) The Canadian carrier may sell, repurchase or redeem excess voting shares in accordance with section 11 or 12, whether or not the Canadian carrier possesses the certificate representing the excess voting shares at the time of the sale, repurchase or redemption. (2) Where the Canadian carrier sells excess voting shares in accordance with section 11, without possessing the certificate representing the excess voting shares, the Canadian carrier shall issue to the purchaser of the excess voting shares or its nominee a new certificate representing the excess voting shares sold. (3) Where the Canadian carrier sells, repurchases or redeems excess voting shares, in accordance with section 11 or 12, without possessing the certificate representing the excess voting shares and, after the sale, repurchase or redemption, a person establishes that the person is a bona fide purchaser of the excess voting shares that were sold, repurchased or redeemed, (a) the excess voting shares purchased by the bona fide purchaser are deemed to be, effective on the date of the purchase, validly issued and outstanding voting shares to which the voting rights have been restored; and (b) notwithstanding subsection 14(6), the Canadian carrier is entitled to receive the funds deposited pursuant to subsection 14(1) and, in the case of a sale in accordance with section 11, shall add the amount of the deposit to the capital account for the class of voting shares issued.
Canadian Telecommunications Common Carrier Ownership and Control Regulations — 15
purposes of these Regulations, (a) whether any voting shares are beneficially owned, or controlled, in such a way as to render a Canadian carrier not eligible to operate pursuant to section 16 of the Act; (b) and for the purposes of subsection 16(2) of the Act, the percentage of the voting shares in a Canadian carrier beneficially owned, and controlled, by Canadians as at July 22, 1987; or (c) any other circumstance relevant to the exercise of the powers of the Commission and its members, officers, employees or agents under the Act or these Regulations.