S-18.2 - Act respecting the Société nationale de l’amiante

Section 15 Disposition versions

1978-05-25

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

(a)  guarantee the payment in principal and interest of any loan made by the Société or by any subsidiary in which it holds more than fifty per cent of the shares, and the payment of the amounts of money payable by the Société or by any such subsidiary pursuant to the inexecution of its contracts;

(b)  authorize the Minister of Finance to advance to the Société or a subsidiary contemplated in subparagraph a any amount considered necessary for the exercise of the powers of the Société or of such subsidiary, at such rate of interest, for such time and on such other conditions as the Government may determine.

The amounts that the Government may be called on to pay under such guarantees or to advance to the Société or a subsidiary shall be taken out of the Consolidated Revenue Fund.

1978, c. 42, s. 15.