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Unformatted text preview: ( 2009) vol. 5 7 , n o 1 8. certain tax-exempt trusts, companies, organizations, or other arrangements that are established exclusively for the purpose of providing pension, retirement, or employee benefits primarily to individuals who are, or within five years have been, qualifying persons; and 9. a trust, company, organization, or other arrangement, provided that the beneficiaries are described in (7) or (8) above. article X XIX a(2)(c): Public Company exemption To qualify for the public company exemption described in article xxix a(2)(c), the following conditions must be met: the company must be resident in Canada or the united states, its principal class of shares or units must be traded on a recognized stock exchange, n these shares or units must be primarily and regularly traded, and n any disproportionate class of shares or units must also be primarily and regularly traded on a recognized stock exchange. n n article xxix a(5)(e) defines “principal class of shares” to mean the ordinary or common shares of a company, if this class represents the majority of the vote and value of the compan...
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