261. The Minister may, on the recommendation of the Commission,
(1) revoke an order;
(2) dismiss a member of the board of directors or declare him disqualified for such office, and provide for his replacement;
(3) order the winding-up of the property of the person concerned and appoint a liquidator;
(4) order the winding-up of the company concerned and appoint a liquidator.
Any member of the board of directors dismissed pursuant to this section is disqualified from holding office as director for a period of five years.
Every order of the Minister for the winding-up of the company concerned has the same effect as an order of a judge of the Superior Court under section 25 of the Winding-up Act (chapter L-4).
1982, c. 48, s. 261; 1990, c. 77, s. 45.