C-4 - Savings and Credit Unions Act

Section 105 Disposition versions

1978-06-23

105. The Government, upon the recommendation of the Minister, after the latter has received the administrator’s report contemplated in section 104, may:

(a)  declare the members of the board of directors, of the board of supervision or of the committee on credit to be dismissed from office and order that a special meeting of the members be held to proceed with the election of new members of such board or committee; or

(b)  order upon such conditions as it shall determine the winding-up of the union and appoint a liquidator.

The decision of the Government ordering the winding-up shall have the same effect as an order made by a judge of the Superior Court under section 25 of the Winding-up Act (chapter L‐4); in other respects, the provisions of Division IV of the said Act and of sections 107 and 108 of this Act shall apply with the necessary modifications to the winding-up so ordered in so far as they are not inconsistent with this division.

1970, c. 59, s. 37; 1978, c. 85, s. 25.

1977-12-31

105. The Gouvernement, upon the recommendation of the Minister, after the latter has received the administrator’s report, may:

(a)  declare the members of the board of directors, of the board of supervision or of the committee on credit to be dismissed from office and order that a special meeting of the members be held to proceed with the election of new members of such board or committee; or

(b)  order upon such conditions as it shall determine the winding-up of the union and appoint a liquidator.

The decision of the Gouvernement ordering the winding-up shall have the same effect as an order made by a judge of the Superior Court under section 25 of the Winding-up Act (chapter L-4); in other respects, the provisions of Division IV of the said act and of sections 107 and 108 of this act shall apply mutatis mutandis to the winding-up so ordered in so far as they are not inconsistent with this division.

1970, c. 59, s. 37.