196. In the case of acquisition or expropriation of the capital stock of a public transport undertaking, the Government, whenever the total amount of the price or indemnity payable for the shares has been paid to those entitled thereto or deposited in accordance with the law, may, by order in council, cancel the charter of the public transport undertaking and order the devolution of its property, rights and obligations to the Transit Commission. Notice of the passing of such order in council shall be published in the Gazette officielle du Québec and the cancellation shall take effect from the date fixed by the order in council. If there then remain any claims or judicial proceedings pending between such undertaking and third parties, the Commission, from the cancellation of the charter of such undertaking, shall be in the rights and obligations of such undertaking; upon such cancellation, the Commission, in all pending cases, shall be substituted for the undertaking of right and without proceedings in continuance of suit, and the judgments obtained shall be executory by or against the Commission, as the case may be.
1969, c. 83, s. 234; 1971, c. 88, s. 42.