545% of sales limit on participants

#### 54 5% of sales limit on participants 5% of sales value limit on participants to whom paragraph 16(1)(a), 17(1)(a) or (2)(a), 18(1)(a) or 19(1)(a) applied (1) If a participant to whom paragraph 16(1)(a), 17(1)(a) or (2)(a), 18(1)(a) or 19(1)(a) applied is granted registration, then, in respect of each ACIS year, the total of the following credit: (a) the modulated credit; (b) the unmodulated uncapped production credit; (c) the unmodulated type J investment credit; issued to the participant must not exceed 5% of the sales value of the participant’s ACIS goods and services in respect of the year preceding the first‑mentioned year. 5% of sales limit on participants to whom paragraph 16(1)(b) or (c), 17(1)(b) or (c) or (2)(b) or (c), 18(1)(b) or (c) or 19(1)(b) or (c) applied (2) If a participant to whom paragraph 16(1)(b) or (c), 17(1)(b) or (c) or (2)(b) or (c), 18(1)(b) or (c) or 19(1)(b) or (c) applied is granted registration, then, in respect of the ACIS year in which the registration took effect, the total of the following credit: (a) the modulated credit; (b) the unmodulated uncapped production credit; (c) the unmodulated type J investment credit; issued to the participant must not exceed 5% of the sales value of the participant’s ACIS goods and services in respect of that year. 5% of sales limit on certain participants in second year of registration (3) At the end of each ACIS year following the ACIS year in which the registration of the participant referred to in subsection (2) took effect, the total of the modulated credit issued to the participant must not exceed 5% of the sales value of the participant’s ACIS goods and services in respect of the year preceding the first‑mentioned year. Meaning of sales value of ACIS goods and services (4) In this section, a reference to the sales value of ACIS goods and services of a participant is a reference to the sales value of the goods sold and services provided by that participant as a result of activities that: (a) earned; or (b) but for the operation of this section, would have earned; the participant duty credit.