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S-12 - Act respecting the Société de récupération, d’exploitation et de développement forestiers du Québec

Section 7
Disposition versions

Full text
7. The Minister of Finance may pay to the Company, out of the consolidated revenue fund, with prior approval of the Government and to carry out the special projects designated by the Government, an amount of $15 000 000 for 150,000 fully paid-up shares of its capital stock for which a certificate shall be issued to him in return for such payment.
Such payment may be made, in one or several instalments, before the end of the 1977/1978 fiscal year; if it is made in several instalments, each of them must be submitted for the approval contemplated in the first paragraph.
The Minister of Finance may, in addition, pay to the Company, out of the consolidated revenue fund, with prior approval of the Government and to carry out the special projects designated by the Government, an amount of $30 000 000 for 300,000 fully paid-up shares of its capital stock for which a certificate shall be issued to him in return for such payment.
Such payment may be made, in one or several instalments, before the end of the 1980/1981 fiscal year; if it is made in several instalments, each of them must be submitted for the approval contemplated in the third paragraph.
1973, c. 21, s. 7; 1977, c. 34, s. 3.
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