S-17.1 - Act respecting the Société immobilière du Québec

Section 31 Disposition versions

1999-10-22

31. The shares of the Société are fully paid if, by order of the Government,

(1)  the Minister of Finance pays to the Société, out of the Consolidated Revenue Fund, the amount of $100,000,000 for 100,000 shares of its capital stock, or if

(2)  the property the ownership of which is transferred in accordance with section 26 of this Act is allocated to full payment for the shares of the Société.

However, the Government may order that the consideration will be paid, to the extent it indicates, both in cash and in property.

The payment in cash contemplated in this section may be made in one or several instalments, the amount and the terms and conditions of which are determined by the Government.

The Société shall issue share certificates to the Minister of Finance in return for payments made in accordance with this section, as when they are made, where such is the case.

1983, c. 40, s. 31; 1999, c. 40, s. 295.

1984-03-14

31. The shares of the corporation are fully paid if, by order of the Government,

(1)  the Minister of Finance pays to the corporation, out of the consolidated revenue fund, the amount of $100 000 000 for 100 000 shares of its capital stock, or if

(2)  the property the ownership of which is transferred in accordance with section 26 of this Act is allocated to full payment for the shares of the corporation.

However, the Government may order that the consideration will be paid, to the extent it indicates, both in cash and in property.

The payment in cash contemplated in this section may be made in one or several instalments, the amount and the terms and conditions of which are determined by the Government.

The corporation shall issue share certificates to the Minister of Finance in return for payments made in accordance with this section, as when they are made, where such is the case.

1983, c. 40, s. 31.