S-29.01 - Act respecting trust companies and savings companies

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73. A non-resident, for the purposes of section 72, is a natural person who resides in Canada for fewer than 183 consecutive days a year, a legal person incorporated elsewhere than in Canada or a legal person directly or indirectly controlled by such a natural person or such a legal person.
Every liquidator of a succession, administrator, tutor, curator, guardian or trustee in possession of shares of any class belonging in the greater part to non-residents is deemed a non-resident respecting those shares.
The same applies to a trust created by a non-resident or in which non-residents together hold 50% of the interests.
1987, c. 95, s. 73.