D-8.0.1 - James Bay Region Development Act

Section 18 Disposition versions

2000-09-27

18. (Repealed).

1971, c. 34, s. 18; 1973, c. 21, s. 31; 1977, c. 5, s. 14; 1999, c. 40, s. 105; 1999, c. 69, s. 6.

1999-10-22

18. The Société may, in addition to promoting the development of the Territory by the Société and by other agents of economic and industrial activity, giving priority to Québec interests, have any company constituted under section 21 carry out the exploration and exploitation of the natural resources in the territory, other than the hydro-electric resources; the shares of such company, which shall have voting rights in all circumstances, shall be held as follows:

(a)  in every company constituted for exploration or exploitation of petroleum resources, the Société must hold 51 % of the shares and the Société québécoise d’initiatives pétrolières (SOQUIP) must hold 49 %;

(b)  in every company constituted for exploration or exploitation of mining resources other than petroleum resources, the Société must hold 51 % of the shares and the Société québécoise d’exploration minière (SOQUEM) must hold 49 %;

(c)  in every company constituted for exploitation of forest resources, the Société must hold 51 % of the shares and the Société de récupération, d’exploitation et de développement forestiers du Québec (REXFOR) must hold 49 %;

(d)  in every company constituted for exploitation of other natural resources including tourism, fish and game, the Société must not hold less than 51 % of the shares.

1971, c. 34, s. 18; 1973, c. 21, s. 31; 1977, c. 5, s. 14; 1999, c. 40, s. 105.

1977-12-31

18. The corporation may, in addition to promoting the development of the Territory by the corporation and by other agents of economic and industrial activity, giving priority to Québec interests, have any corporation incorporated under section 21 carry out the exploration and exploitation of the natural resources in the territory, other than the hydro-electric resources; the shares of such corporation, which shall have voting rights in all circumstances, shall be held as follows:

(a)  in every company incorporated for exploration or exploitation of petroleum resources, the corporation must hold fifty-one per cent of the shares and the Société québécoise d’initiatives pétrolières (SOQUIP) must hold forty-nine per cent;

(b)  in every company incorporated for exploration or exploitation of mining resources other than petroleum resources, the corporation must hold fifty-one per cent of the shares and the Société québécoise d’exploration minière (SOQUEM) must hold forty-nine per cent;

(c)  in every company incorporated for exploitation of forest resources, the corporation must hold fifty-one per cent of the shares and the Société de récupération, d’exploitation et de développement forestiers du Québec (REXFOR) must hold forty-nine per cent;

(d)  in every company incorporated for exploitation of other natural resources including tourism, fish and game, the corporation must not hold less than fifty-one per cent of the shares.

1971, c. 34, s. 18; 1973, c. 21, s. 31; 1977, c. 5, s. 14.