Each enterprise needs applicable investments. (6) For the needs of subsection (5), a enterprise is a listed firm in relation to a labour sponsored investment fund company if, when the corporation makes an eligible investment within the business, any of the shares of the business are listed on a inventory alternate prescribed by Regulation 3200 or 3201 made below the Earnings Tax Act (Canada).
As the SBA itself mentioned, “almost any person or group with a minimal preliminary non-public capitalization of $5 million and an SBA-accepted full time manager who can be in control of the licensee’s operations and who is able to serve the licensee’s small enterprise issues, may be authorized for ownership.” Indeed, the SBA’s interest in encouraging SBICs is obvious within the comparatively palms-off regulatory setting that they have established for such enterprises.
(5) If the labour sponsored funding fund company fails to withhold or remit an amount below subsection (four), the company is liable to pay to the Minister as tax beneath subsection (2) on behalf of the shareholder the quantity that the company did not withhold or remit.
16.1 (1) A labour sponsored funding fund corporation that intends to situation shares as a analysis oriented …