S-22.1 - Act respecting the Société québécoise des transports

Section 27 Disposition versions

1983-07-05

27. The Government may, on such conditions as it may determine,

(1)  guarantee the payment in capital and interest of any loan contracted by the corporation or a subsidiary of which it owns more than 50% of the shares and the payment of sums of money payable by the corporation or any subsidiary as a result of the non-fulfilment of its contracts;

(2)  authorize the Minister of Finance to advance to the corporation or a subsidiary contemplated in subparagraph 1 any amount deemed necessary for the exercise of the powers and duties of the corporation or such subsidiary, at the rate of interest, for the term and on any other conditions the Government determines.

Any sums the Government may be called upon to pay under the guarantees or to advance to the corporation or a subsidiary are taken out of the consolidated revenue fund.

1983, c. 27, s. 27.