7. (1) For the purposes of the Act,  “small business” means a corporation having not more than 150 employees, excluding directors and officers of the corporation. R.R.O. 1990, Reg. 1020, s. 7 (1). (2) For the purposes of subsection (1), (a) an employee of a corporation that is affiliated with the corporation or would be affiliated with the corporation but for equity shares held by a small business development corporation shall be deemed to be an employee of the corporation; (b) an employee of a corporation participating in a joint venture or of a corporation affiliated with such a corporation shall be deemed to be an employee of each corporation participating in the joint venture; (c) an employee is one who works a total of twenty hours or more per week for the corporation, a corporation referred to in clause (a), a corporation participating in a joint venture with the corporation or a corporation affiliated with such a corporation, or any combination thereof, and includes an employee hired through a temporary help agency; (d) the determination of whether a corporation has not more than 150 employees shall be based upon the average number of employees for the twelve month period commencing on the date of investment in the corporation by the small business development corporation; and (e) the Minister shall be satisfied that the corporation, any corporations referred to in clause (a), any corporations participating in a joint venture with the corporation and any corporations affiliated with such corporations have not reduced the number of employees for a purpose primarily related to enabling the corporation to become an eligible small business. R.R.O. 1990, Reg. 1020, s. 7 (2). (3) For the purposes of subsection (1), “officer” means the chair and any vice-chair of the board of directors, the president, vice-president, the secretary, any assistant secretary, the treasurer, any assistant treasurer, the general manager, or any other person designated an officer by by-law or by resolution of the directors or any other individual who performs functions for the corporation similar to those normally performed by any individual occupying any such office. R.R.O. 1990, Reg. 1020, s. 7 (3). (4) For the purposes of clause (2) (c), an employee is hired through a temporary help agency if the agency is in the business of supplying temporary help services or similar services and the employee is required to perform work or services at the place of business of the corporation retaining the services of the agency, for which the corporation pays a fee or other remuneration to the agency, and not to the employee, in respect of the work or services performed by the employee. R.R.O. 1990, Reg. 1020, s. 7 (4). (5) Despite subsection (1), a corporation shall not be a small business for the purposes of the Act unless the Minister is satisfied that, (a) the stated capital of the corporation and any previously affiliated corporation has not been reduced or otherwise varied; and (b) there have been no changes in the shareholders of the corporation and any previously affiliated corporation, for a purpose primarily related to enabling the corporation to qualify as a small business. R.R.O. 1990, Reg. 1020, s. 7 (5). (6) Despite subsection (2), the Minister may deem a corporation to be a small business if the Minister is satisfied that the corporation will qualify as a small business at the end of the twelve-month period commencing on the date of investment in the corporation by the small business development corporation. R.R.O. 1990, Reg. 1020, s. 7 (6). (7) For the purposes of subsection 13 (4) of the Act, the prescribed number of maximum permitted employees is 300, determined in the same manner as the number of employees of the corporation is determined for the purposes of subsection (1). R.R.O. 1990, Reg. 1020, s. 7 (7).