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

Section 16 Disposition versions

1978-05-25

16. The Société shall not, without the authorization of the Government, subject to the exceptions and conditions provided for by regulation of the Government,

(a)  exercise its powers relating to the objects contemplated in the second paragraph of section 4;

(b)  acquire undertakings pursuing the same or similar purposes or shares forming the joint-stock of any such undertakings;

(c)  contract a loan that raises to more than $1,000,000 the total of the sums borrowed by it and not yet reimbursed;

(d)  dispose of a part or of the whole of its mining property;

(e)  grant loans.

Any regulation of the Government provided for in this section comes into force on the date of its publication in the Gazette officielle du Québec.

Every order of the Government authorizing the acquisition of an undertaking or shares forming the capital stock of an undertaking contemplated in subparagraph b of the first paragraph of this section must be tabled without delay in the National Assembly if it is sitting or, if it is not sitting, within fifteen days after the opening of the next session or, as the case may be, after resumption.

1978, c. 42, s. 16.