Your FIF interest will qualify for the exemption from the FIF measures as a holding company if the following requirements are satisfied. [section 523A]
- Approved stock exchange
Your shares in the holding company are of a class listed on any stock market of a stock exchange approved in Schedule 12 of the Regulations. See Appendix 1: Approved stock exchanges.
- Trading requirement
The class of shares you have in the holding company must be widely held and actively traded on a regular basis on a stock market of an approved stock exchange.
If the holding company has only one subsidiary, that subsidiary must be wholly owned and have been principally engaged in actively carrying on two or more of the activities mentioned above or in subparagraph 523(b)(ii).
If the holding company has more than one subsidiary, the principal activities of the wholly owned subsidiaries in the group, taken together as an economic unit, must be the active carrying on of two or more of the activities mentioned above or in subparagraph 523(b)(ii).