18.8 (1) An investment made by a community small business investment fund corporation is an eligible investment if, (a) the investment is made in a business that is an eligible business when the investment is made; (b) the investment is, (i) if the eligible business is a taxable Canadian corporation, the purchase from the eligible business by the community small business investment fund corporation of shares or a qualifying debt obligation issued by the eligible business in exchange for a consideration paid in money, (ii) if the eligible business is a Canadian partnership, the purchase of an ownership interest in the eligible business or a qualifying debt obligation issued by the eligible business in exchange for a consideration paid in money, (iii) the purchase of a guarantee provided by the community small business investment fund corporation in respect of a debt obligation that would, if the debt obligation had been issued to the community small business investment fund corporation at the time the guarantee was provided, have been a qualifying debt obligation issued by the eligible business, or (iv) the purchase of an option or right granted by an eligible business that is a corporation, in conjunction with the issue of a share or a debt obligation that is an eligible investment, to acquire a share of an eligible business that would be an eligible investment if that share were issued at the time that the option or right was granted; and (c) the investment is not used or intended to be used by the eligible business for the purpose of, (i) relending, (ii) investment in land, except land that is incidental and ancillary to the eligible business activity or activities in which the eligible business is primarily engaged, (iii) reinvestment or the acquisition of any securities of any person, (iv) subject to subsection (1.1), financing the purchase or sale of goods or services provided to the eligible business by or through a shareholder of the community small business investment fund corporation or a person related to a shareholder, (v) the payment of dividends, (vi) the payment of drawings to partners of the eligible business, (vii) the return of capital to a shareholder or partner of the eligible business, (viii) the payment of the principal amount of outstanding liabilities owing to shareholders of the community small business investment fund corporation or to persons related to such shareholders, (ix) carrying on a business outside Ontario, or (x) any prescribed purpose or use.  1997, c. 43, Sched. C, s. 10; 1998, c. 34, s. 18 (1-3); 1999, c. 9, s. 60 (1); 2004, c. 16, s. 1 (2). Exception (1.1) Subclause (1) (c) (iv) does not apply with respect to the purchase of goods or services from a shareholder who is a sponsor of the corporation described in paragraph 2, 3, 4 or 5 of subsection 18.3 (1) or from a person who is related to such a shareholder.  1998, c. 34, s. 18 (4); 2004, c. 16, s. 1 (2). Amounts of guarantee included in investments (2) For the purposes of section 18.7 and subsection 20 (5), 25 per cent of the amount of all guarantees provided by a community small business investment fund corporation in respect of debt obligations of an eligible business shall be included in calculating the amount of the investment made by a community small business investment fund in that particular eligible business.  1997, c. 43, Sched. C, s. 10; 1998, c. 34, s. 18 (5); 1999, c. 9, s. 60 (2); 2004, c. 16, s. 1 (2). Deemed cost (3) For the purposes of subsection 28.1 (1), the cost to a community small business investment fund corporation of an eligible investment that is a guarantee shall be deemed to be 25 per cent of the aggregate amount of the debt obligations in respect of which the guarantee is provided.  1998, c. 34, s. 18 (6); 2004, c. 16, s. 1 (2). Section Amendments with date in force (d/m/y) 1997, c. 43, Sched. C, s. 10 - 7/05/1997; 1998, c. 34, s. 18 - 7/05/1997; 1999, c. 9, s. 60 - 14/12/1999 2004, c. 16, s. 1 (2) - 1/01/2004