19 January 2007 Internal T.I. 2006-0216451I7 F - Fondation privée investissant dans une S.P. -- summary under Paragraph 149.1(4)(a)

A Quebec private foundation, which had invested in a foreign partnership (FP) that was governed by the Delaware Revised Uniform Partnership Act (DRUPA), submitted that “the FP is a separate legal entity from its members under the statutory provisions of the … DRUPA … by virtue of which it was created and consequently it is the FP that operates the business and not the members,” so that its registration was not subject to revocation under s. 149.1(4)(a). In response, the Directorate confirmed its position that the foreign entity status of such an entity did not preclude it from being a partnership.