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Q-2, r. 7.1 - Regulation respecting sand pits and quarries

Section 35
Disposition versions

Full text
35. The financial guarantee must be provided in the form of
(1)  a bank draft or a certified cheque made out to the Minister of Finance;
(2)  debt securities in Canadian dollars issued or guaranteed by the Gouvernement du Québec or any other government in Canada having a market value at least 10% greater than the amount of the guarantee calculated in accordance with section 34 and whose term is longer than the term of the guarantee by 12 months;
(3)  a security with a waiver of the benefits of division and discussion, issued by a legal person governed by the Insurers Act (chapter A-32.1), the Act respecting financial services cooperatives (chapter C-67.3) or the Bank Act (S.C. 1991, c. 46); or
(4)  an irrevocable letter of credit issued by a legal person referred to in subparagraph 3.
A guarantee in the form of a bank draft, certified cheque or debt securities must be deposited with the Bureau général de dépôts pour le Québec.
O.C. 236-2019, s. 35.
35. The financial guarantee must be provided in the form of
(1)  a bank draft or a certified cheque made out to the Minister of Finance;
(2)  debt securities in Canadian dollars issued or guaranteed by the Gouvernement du Québec or any other government in Canada having a market value at least 10% greater than the amount of the guarantee calculated in accordance with section 34 and whose term is longer than the term of the guarantee by 12 months;
(3)  a security with a waiver of the benefits of division and discussion, issued by a legal person governed by the Act respecting insurance (chapter A-32), the Act respecting financial services cooperatives (chapter C-67.3) or the Bank Act (S.C. 1991, c. 46); or
(4)  an irrevocable letter of credit issued by a legal person referred to in subparagraph 3.
A guarantee in the form of a bank draft, certified cheque or debt securities must be deposited with the Bureau général de dépôts pour le Québec.
O.C. 236-2019, s. 35.
In force: 2019-04-18
35. The financial guarantee must be provided in the form of
(1)  a bank draft or a certified cheque made out to the Minister of Finance;
(2)  debt securities in Canadian dollars issued or guaranteed by the Gouvernement du Québec or any other government in Canada having a market value at least 10% greater than the amount of the guarantee calculated in accordance with section 34 and whose term is longer than the term of the guarantee by 12 months;
(3)  a security with a waiver of the benefits of division and discussion, issued by a legal person governed by the Act respecting insurance (chapter A-32), the Act respecting financial services cooperatives (chapter C-67.3) or the Bank Act (S.C. 1991, c. 46); or
(4)  an irrevocable letter of credit issued by a legal person referred to in subparagraph 3.
A guarantee in the form of a bank draft, certified cheque or debt securities must be deposited with the Bureau général de dépôts pour le Québec.
O.C. 236-2019, s. 35.
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