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P-41.1, r. 1 - Preservation of Agricultural Land and Agricultural Activities Regulation

Section 12
Disposition versions

Full text
12. The security provided by the applicant under section 74 of the Act may, at the applicant’s choice, be in any of the following forms:
(1)  bonds issued or guaranteed by the Gouvernement du Québec: in such case, only market value is recognized;
(2)  a guarantee policy issued by an insurer duly authorized under the Insurers Act (chapter A-32.1) to do business in Québec;
(3)  a guarantee obtained from any institution empowered to issue it. In such case, the surety must waive the benefit of discussion and division, and the guarantee may not be cancelled before the restoration works are completed;
(4)  a cash deposit made by certified cheque payable to the Minister of Finance.
Security referred to in subparagraphs 1 and 4 of the first paragraph are deposited by the Board with the Bureau général de dépôts pour le Québec.
O.C. 1163-84, s. 12; O.C. 488-2017, s. 16.
12. The security provided by the applicant under section 74 of the Act may, at the applicant’s choice, be in any of the following forms:
(1)  bonds issued or guaranteed by the Gouvernement du Québec: in such case, only market value is recognized;
(2)  a guarantee policy issued by an insurer duly authorized under the Act respecting insurance (chapter A-32) to do business in Québec;
(3)  a guarantee obtained from any institution empowered to issue it. In such case, the surety must waive the benefit of discussion and division, and the guarantee may not be cancelled before the restoration works are completed;
(4)  a cash deposit made by certified cheque payable to the Minister of Finance.
Security referred to in subparagraphs 1 and 4 of the first paragraph are deposited by the Board with the Bureau général de dépôts pour le Québec.
O.C. 1163-84, s. 12; O.C. 488-2017, s. 16.
12. The security provided by the applicant under section 74 of the Act may, at the applicant’s choice, be in any of the following forms:
(1)  bearer bonds issued or guaranteed by the Gouvernement du Québec: in such case, only market value is recognized;
(2)  a guarantee policy issued by an insurer duly authorized under the Act respecting insurance (chapter A-32) to do business in Québec;
(3)  a guarantee obtained from any institution empowered to issue it. In such case, the surety must waive the benefit of discussion and division, and the guarantee may not be cancelled before the restoration works are completed;
(4)  a cash deposit made by certified cheque payable to the Minister of Finance.
O.C. 1163-84, s. 12.
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