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Published

Temporary increase in the tax credit for the acquisition of shares issued by Fondaction

The rate of the tax credit for the acquisition of shares issued by the Fonds de développement de la Confédération des syndicats nationaux pour la coopération et l’emploi (Fondaction) will be temporarily increased from 15% to 25% for any share or fraction of a share acquired after May 31, 2009, and no later than the end date of the fiscal period at the end of which Fondaction first reaches a capitalization of at least $1.25 billion.

For the fiscal period beginning June 1, 2009, and for any subsequent fiscal period, Fondaction will be authorized to accept a maximum of $150 million until it reaches, for the first time at the end of a given fiscal period, at least $1.25 billion in paid-up capital regarding the shares and fractions of shares issued and outstanding.

For further information, see page A.65 in Additional Information on the Budgetary Measures, published by the Ministère des Finances.

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