Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations

Marginal note:Application for small investment plan status

• 15 (1) An investment plan may apply to the Minister to not have section 9 apply in respect of any reporting period in a particular fiscal year of the investment plan and in respect of any reporting period in the fiscal year of the investment plan following the particular fiscal year.

• Marginal note:Authorization

  (2) On receipt of an application made by an investment plan under subsection (1) in respect of a particular fiscal year of the investment plan and the fiscal year of the investment plan following the particular fiscal year, the Minister must, within 90 days of that receipt, consider the application and, if it is reasonable, based on the information in the possession of the Minister, to expect that the investment plan will be a qualifying small investment plan for those two fiscal years, approve the application or, in any other case, refuse the application, and must, within that time limit, notify the investment plan in writing of the decision.

• Marginal note:Effect of authorization

  (3) If the Minister approves an application made by an investment plan under subsection (1) in respect of a particular fiscal year of the investment plan and the fiscal year of the investment plan following the particular fiscal year,

  • (a) if the investment plan is a qualifying small investment plan for the particular fiscal year, section 9 does not apply in respect of any reporting period in the particular fiscal year; and

  • (b) if the investment plan is a qualifying small investment plan for the following fiscal year, section 9 does not apply in respect of any reporting period in the following fiscal year.

• Marginal note:Form and manner of application

  (4) An application made by an investment plan under subsection (1) is to be made in prescribed form containing prescribed information and is to be filed with the Minister in prescribed manner on or before the particular day that is 90 days before the first day of the first fiscal year to which the application applies or on or before any day after the particular day that the Minister may allow.