I-13.3, r. 7 - Regulation respecting the norms, conditions and procedure for disposing of an immovable of a school board

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6. A school board may not dispose of an immovable for less than its value. Notwithstanding the foregoing, where all the bids received are below the value of the immovable,
(1)  the Minister may authorize the school board to dispose of the immovable to the highest bidder; or
(2)  the school board may, if it does not ask for the authorization referred to in subparagraph 1, entrust the sale of the immovable to a real estate broker.
Where all the bids received by the real estate broker are below the value of the immovable, the Minister may authorize the school board to dispose of the immovable to the highest bidder.
O.C. 471-2004, s. 6.