93. The Government may, on the conditions it determines, authorize the Minister of Energy and Resources to cancel a timber limit granted under this act or the Act to provide for a rational exploitation of certain forest lands (1946, chapter 25) or any other general law or special act to that effect.
As compensation for such cancellations, the Minister must grant the persons whose timber limits are cancelled and who have wood processing plants in Québec timber supply on public lands in the form of rights to cut standing timber:
(a) equal, as far as possible, in economic profitability, to the rights contained in the cancelled grants;
(b) sufficient, taking account of other sources of supply, to supply the plants of such persons for as long as they carry on normal operations.
The Minister shall also pay an indemnity to such persons equal to the residual value of the permanent works, inventory, management and survey work and other improvements effected by such persons on the cancelled grants. The residual value shall be established according to the method determined by regulation of the Government.
In the case where a right to cut standing timber is granted on the same territory, in whole or in part, as the cancelled timber limit, the compensation provided for in the preceding paragraph is decreased, except in respect of roads classified as main logging roads, by the undepreciated capital cost of the works and improvements that will continue to be used for the purposes of that new right to cut timber.
The Minister may in addition give the guarantees provided for in the second paragraph to persons whose timber limits are cancelled and have no wood processing plants in Québec so as to enable them to meet the firm undertakings they made before 30 July 1974 to the owners of wood processing plants.
Sections 3 to 18 of the Act respecting the acquisition of certain forest lands (1951/1952, chapter 38) apply mutatismutandis to the fixing of the indemnity provided for in this section.
Every privilege, hypothec or real right affecting the right to cut in a timber limit shall be extinguished of right upon cancellation of the timber limit. However, that privilege, hypothec or real right may be renewed, at the instance of the creditor, as regards the rights to cut standing timber granted under this section, by means of a notice sent to the registrar of the registration division concerned or, in the case of non-cadastered public lands, to the Ministère de l’Énergie et des Ressources, within sixty days after notice of the granting of the right to cut standing timber is sent by registered or certified mail by the Minister to the creditor.
R. S. 1964, c. 92, s. 98; 1966-67, c. 37, s. 3; 1974, c. 28, s. 27; 1975, c. 83, s. 84; 1977, c. 5, s. 14; 1979, c. 81, s. 20.