20. A taxi owner’s permit issued before 15 November 2000 may, with the authorization of the Commission granted in accordance with the second paragraph, be assigned or transferred to a new acquirer, to a hypothecary creditor or to an heir provided that the person satisfies the conditions prescribed by regulation, in particular the payment of the duties.
Before granting its authorization, the Commission must ensure that the assignment or transfer is not contrary to the public interest and that the taxi owner’s permit is not the subject of suspension or revocation proceedings. Where the application for authorization concerns a permit charged with a hypothec and the Commission has received a copy of the contract, the Commission must satisfy itself that the creditor consents to the assignment or transfer.
The Commission must grant the application of a hypothecary creditor requesting the transfer, after the conditions for the exercise of hypothecary rights are fulfilled, of the taxi owner’s permit held by a debtor who has defaulted on his or her contractual obligations.
As well, the Commission must allow the intervention of a hypothecary creditor seeking the automatic transfer of the taxi owner’s permit of a debtor, as realization of the creditor’s security, should the Commission revoke the permit pursuant to this Act. Where that is the case, the decision of the Commission to revoke the debtor’s taxi owner’s permit only has effect with respect to the debtor. A hypothecary creditor who acquires a permit under this section must make an undertaking to the Commission to pay to the Association professionnelle des chauffeurs de taxi du Québec, within the time the Commission indicates, the difference between the price of disposition of the permit and the amount of the creditor’s claim, including costs and interest.
A permit referred to in the third and fourth paragraphs is deemed to have been issued for the first time before 15 November 2000.