66 (1) In this subdivision,  “associated group”, in respect of a corporation or qualifying small business, has the prescribed meaning; (“groupe”) “average bank prime rate” has the prescribed meaning; (“taux préférentiel bancaire moyen”) “community small business investment fund corporation” means a corporation registered as a community small business investment fund corporation under the Community Small Business Investment Funds Act, 1992; (“fonds communautaire de placement dans les petites entreprises”) “disposition” includes an event prescribed to be a disposition for the purposes of this subdivision and excludes an event prescribed not to be a disposition for the purposes of this subdivision; (“disposition”) “long-term debt” has the meaning assigned by subsection 181 (1) of the Federal Act; (“passif à long terme”) “qualifying small business” means a business that satisfies the prescribed conditions; (“petite entreprise autorisée”) “related financial institution” means, in respect of a particular financial institution for a taxation year, another financial institution that is related at the end of the year to the particular financial institution; (“institution financière liée”) “related insurance corporation” means, in respect of a particular financial institution for a taxation year, an insurance corporation that is related at the end of the year to the particular financial institution; (“compagnie d’assurance liée”) “reserves” means, in respect of a financial institution for a taxation year, the amount, calculated as of the end of the year, of all of the corporation’s reserves, provisions and allowances, including any provision in respect of deferred taxes or future tax liabilities, but excluding allowances in respect of depreciation or depletion; (“réserves”) “taxable capital employed in Canada” means, with respect to a financial institution for a taxation year, the financial institution’s taxable capital employed in Canada for the year as determined under section 181.3 of the Federal Act. (“capital imposable utilisé au Canada”)  2007, c. 11, Sched. A, s. 66 (1). Financial institution (2) A corporation is a financial institution for a taxation year for the purposes of this Division if, at any time in the year, (a) it is a bank; (b) it is authorized under the laws of Canada or a province to carry on the business of offering its services as a trustee to the public; (c) it is authorized under the laws of Canada or a province to accept deposits from the public and carries on the business of lending money on the security of real estate or investing in mortgages on real estate; (d) it is a registered securities dealer; (e) it is a mortgage investment corporation; or (f) it is a corporation prescribed for the purposes of this subsection.  2007, c. 11, Sched. A, s. 66 (2). Deposit-taking institution (3) A corporation is a deposit-taking institution for a taxation year for the purposes of this subdivision if, (a) it is a financial institution for the year by reason of clause (2) (a), (b) or (c); (b) it is a corporation all or substantially all of the assets of which are shares or indebtedness of corporations described in clause (a) to which the corporation is related; or (c) it is a corporation all or substantially all of the assets of which are shares or indebtedness of corporations described in clause (b) to which the corporation is related.  2007, c. 11, Sched. A, s. 66 (3). Qualifying small business corporation (4) For the purposes of this subdivision, a corporation is a qualifying small business corporation at a particular time if, (a) it is a Canadian-controlled private corporation; (b) it carries on business in Ontario through one or more permanent establishments; (c) it satisfies the prescribed conditions; and (d) all or substantially all of the fair market value of the corporation’s assets is attributable to assets used principally in an active business carried on by the corporation primarily in Ontario.  2007, c. 11, Sched. A, s. 66 (4). Same (5) A corporation is also a qualifying small business corporation at a particular time for the purposes of this subdivision if it is associated with a corporation referred to in subsection (4) at that time and satisfies such conditions as may be prescribed.  2007, c. 11, Sched. A, s. 66 (5). Section Amendments with date in force (d/m/y) CTS 18 AU 10 - 1