122.1. The revocation provided for in the second paragraph of section 122 takes effect on 1 July of the school year following that for which it refuses or neglects to receive the subsidy.
However, for the purposes of the Act respecting the Government and Public Employees Retirement Plan (chapter R-10) and the Act respecting the Pension Plan of Management Personnel (chapter R-12.1), the revocation takes effect on 1 January following that date.