124.15. The Minister may, following an application by an agency, divide the territory of the agency and form new agencies; the application must include
(1) the names of the new agencies;
(2) the designation of the persons who will act as representatives of the municipalities, the organizations certified pursuant to section 124.1.1 and the holders of a wood processing plant operating permit on the first boards of directors of the new agencies;
(3) the designation of the persons who will act as chairmen of the boards of directors of the new agencies;
(4) a plan for the allocation of the rights and obligations of the agency whose territory is divided.
The application shall be accompanied with the internal by-laws that will govern the new agencies.
The Minister shall give notice of the formation of the new agencies in the Gazette officielle du Québec.
The agency whose territory has been divided ceases to exist and its rights and obligations become the rights and obligations of the new agencies in accordance with the allocation plan.