S-11.01 - Act respecting the Société de développement industriel du Québec

Section 4 Disposition versions

1987-03-01

4. The Corporation shall ensure that the assistance granted helps to develop profitable economic activities which generate significant economic benefits in Québec, particularly as regards job creation.

1971, c. 64, s. 4; 1974, c. 56, s. 2; 1979, c. 13, s. 1; 1982, c. 39, s. 2; 1986, c. 110, s. 2.

1982-06-23

4. The financial assistance provided for in section 3 may be

(a)  a loan at the market rate;

(b)  a guarantee of repayment of the whole or a part of a financial commitment;

(c)  an acquisition of shares of a business, provided the Corporation is not the majority holder thereof at any time.

1971, c. 64, s. 4; 1974, c. 56, s. 2; 1979, c. 13, s. 1; 1982, c. 39, s. 2.

1979-06-22

4. The Corporation must demand repayment from a business of financial assistance it has received under paragraph d or e of section 3, and the business is bound to repay it, if the majority of the shares of the capital stock or more than one-half of the assets of the business are transferred, within five years from the granting of the financial assistance, to a business not having its head office in Québec, as defined by regulation, or a person not resident in Québec.

Before acting in compliance with the first paragraph, the Corporation must notify the Minister of its intention to do so, and the Minister may then exempt the Corporation from this requirement if he considers that the transfer is in the economic interest of Québec.

1971, c. 64, s. 4; 1974, c. 56, s. 2; 1979, c. 13, s. 1.

1977-12-31

4. Financial assistance may be granted to a manufacturing business for one or more of the following purposes:

(a)  the purchase, construction, improvement or extension of works or manufactories and the purchase of the land required for the operation of such works or manufactories;

(b)  the purchase of machinery, tools and equipment for operating works or manufactories and their installation;

(c)  the acquisition or use of patents;

(d)  the improvement or consolidation of the financial structure of the business;

(e)  the purchase of shares in manufacturing or commercial businesses contemplated in section 2.

1971, c. 64, s. 4; 1974, c. 56, s. 2.