PROPOSED AMENQMENT TO FnRETGN TNVESTMENT
R-EV AL@r
(3) Notwithstanding any other provision of this Actp
where the Minister, upon application by or on behalf of any
corporation incorporated in Canada, in satisfied, on the
basis of such information and evidence as be considers
sufficient for suca purpose, that:
(i) no non-eligible person or group of persons any
/00-- number of waich is a non-eligible person, including
for this purpose any associates or affiliates of
such non-eligible person or of the members of such
group, owns# or exercises direction or control over
securities of the corporation to which are attached
50% or more in tne aggregate of tne voting rights
ordinarily exercisable at meetings of suareholders
of the corporation
(ii) not more than 20% of the total number of members of
the board of directors or other governing body or
of the officers of the corporation ace persons
described in paragrapa (a) or (b) of the definition
anon-eligible person' in subsection My
(iii) the chief executive officer of tile corporation is
not a non-eligibl* persona
(iv) the head office and principal place, of business,
as well as the registered offices, if any,, of the
corporation are located in Canada;
(V) itbe board of directors or other governing body of
the corporation has managed and continues to manage
the business and affairs of the corporation on a
substantially autonomous basis# without significant
interference in the ordinary conduct of such
management by any shareholder or group of
sharenolders of the corporation; and
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BAT Industries document for Province of British Columbia 12 April 1999

(vi) wnere applicable the corporation has complied and
continues to comply, in all material respects, with
such guidelines# if any, as may be published
pursuant to subsection (2) with respect to the
business conduct of corporations in respect of whom
a determination may be made under this subsection
(C)"
the Minister may determine that toe corporation is not a
non-eligible person and may thereupon furnish to the applicant
for his guidance a statement in writing of such determination
110@
and such statement is* if all material facts relating to the
matters referred to in the foregoing clause (i) to (vi)
inclusive have been disclosed to the Minister in the
information and evidence submitted to him, binding upon the
minister for so long an such facts as so disclosed remain
substantially unchanged 0 rom tne time when
Z( @for @two Y@"rz@i
the statement was so submitted if throughout that periodp
such facts remain subistantially unchanged, whichever is the
lesser period of time.
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BAT Industries document for Province of British Columbia 12 April 1999