7. Except in the cases and on the conditions the Government may determine, the Société and each of its subsidiaries must obtain the authorization of the Government to
(1) acquire, hold or transfer shares in a legal person or an interest in a partnership;
(2) contract a loan that causes the total of their outstanding borrowings to exceed the amount determined by the Government;
(3) grant loans or make any other financial commitment for an amount exceeding the amount determined by the Government;
(4) acquire or transfer the assets of a legal person or a partnership;
(5) accept a gift or legacy to which a condition or charge is attached;
(6) acquire by agreement or by expropriation, alienate, transfer by way of lease or otherwise give as security an immovable or other real right;
(7) construct an immovable.
The Government may make its authorization subject to the conditions it determines. The cases and conditions determined under the first paragraph may concern the Société and its subsidiaries or one or more of their number.
This section does not apply to operations carried out between the Société and its subsidiaries or between subsidiaries.
1971, c. 34, s. 7; 1988, c. 41, s. 91; 1999, c. 40, s. 105; 1999, c. 69, s. 4.