55. Notwithstanding any general law or special Act to the contrary, municipal corporations, school boards and the Conseil scolaire de l’île de Montréal may invest the sinking-funds for their borrowings in acquiring bonds issued by the Société.
The same applies to the Minister of Finance when he administers the sinking-funds.
The bonds of the Société shall be securities in which investments referred to in article 981o of the Civil Code of Lower Canada, in sections 243 to 274 of the Act respecting insurance (chapter A-32), and in section 201 of the Act respecting trust companies and savings companies (chapter S-29.01) may be made.
1983, c. 16, s. 55; 1987, c. 95, s. 402; 1988, c. 84, s. 578; 1992, c. 32, s. 43.