S-17.1 - Act respecting the Société immobilière du Québec

Section 33 Disposition versions

2011-07-01

33. In no case may the Société, without the authorization of the Government,

(1)  contract a loan that increases the aggregate of its outstanding loans to more than the amount determined by the Government;

(2)  enter into a contract for a term and an amount exceeding those determined by the Government;

(3)  acquire or hold over 50% of the shares of a legal person or a sufficient percentage of them to elect the majority of the directors of that legal person;

(4)  acquire, lease or otherwise alienate an immovable for an amount exceeding the amount determined by the Government;

(5)  accept a gift or legacy to which a charge or condition is attached.

The order of the Government regarding any matter contemplated in subparagraph 2 or 3 of the first paragraph must be tabled, within 15 days after it is made, in the National Assembly if it is in session or, if it is not sitting, within 15 days of the opening of the next session or resumption.

1983, c. 40, s. 33; 1999, c. 40, s. 295; 2011, c. 16, s. 172.

1999-10-22

33. In no case may the Société, without the authorization of the Government,

(1)  contract a loan that increases the aggregate of its outstanding loans to more than the amount determined by the Government;

(2)  enter into a contract for a term and an amount exceeding those determined by the Government;

(3)  acquire or hold over 50% of the shares of a legal person or a sufficient percentage of them to elect the majority of the directors of that legal person;

(4)  acquire, lease or otherwise alienate an immovable for an amount exceeding the amount determined by the Government.

The order of the Government regarding any matter contemplated in subparagraph 2 or 3 of the first paragraph must be tabled, within 15 days after it is made, in the National Assembly if it is in session or, if it is not sitting, within 15 days of the opening of the next session or resumption.

1983, c. 40, s. 33; 1999, c. 40, s. 295.

1984-03-14

33. In no case may the corporation, without the authorization of the Government,

(1)  contract a loan that increases the aggregate of its outstanding loans to more than the amount determined by the Government;

(2)  enter into a contract for a term and an amount exceeding those determined by the Government;

(3)  acquire or hold over 50% of the shares of a corporation or a sufficient percentage of them to elect the majority of the directors of that corporation;

(4)  acquire, transfer by lease or otherwise alienate an immovable for an amount exceeding the amount determined by the Government.

The order of the Government regarding any matter contemplated in subparagraph 2 or 3 of the first paragraph must be tabled, within 15 days after it is made, in the National Assembly if it is in session or, if it is not sitting, within 15 days of the opening of the next session or resumption.

1983, c. 40, s. 33.