In force: 2019-04-18
35. The financial guarantee must be provided in the form of
(1) a bank draft or a certified cheque made out to the Minister of Finance;
(2) debt securities in Canadian dollars issued or guaranteed by the Gouvernement du Québec or any other government in Canada having a market value at least 10% greater than the amount of the guarantee calculated in accordance with section 34 and whose term is longer than the term of the guarantee by 12 months;
(3) a security with a waiver of the benefits of division and discussion, issued by a legal person governed by the Act respecting insurance (chapter A-32), the Act respecting financial services cooperatives (chapter C-67.3) or the Bank Act (S.C. 1991, c. 46); or
(4) an irrevocable letter of credit issued by a legal person referred to in subparagraph 3.
A guarantee in the form of a bank draft, certified cheque or debt securities must be deposited with the Bureau général de dépôts pour le Québec.