S-11.012 - Act respecting the Société de la faune et des parcs du Québec

Section 25 Disposition versions

1999-12-01

25. The Société may not, without the authorization of the Government,

(1)  contract a loan that causes the total of its current outstanding loans to exceed the amount determined by the Government ;

(2)  make a financial commitment in excess of the limits or in contravention of the terms and conditions determined by the Government ;

(3)  acquire or hold shares in a legal person or an interest in a partnership in excess of the limits or in contravention of the terms and conditions determined by the Government ;

(4)  transfer shares in a legal person or an interest in a partnership in excess of the limits or in contravention of the terms and conditions determined by the Government ;

(5)  acquire or transfer other assets in excess of the limits or in contravention of the terms and conditions determined by the Government ;

(6)  accept a gift or legacy to which a charge or condition is attached.

The Government may prescribe that one of the provisions of the first paragraph applies to all subsidiaries of the Société or to only one of them.

However, the provisions of the first paragraph do not apply to transactions between the Société and its subsidiaries or between the subsidiaries.

1999, c. 36, s. 25.