C-68.1 - Act respecting the Corporation d’hébergement du Québec

Section 9 Disposition versions

1999-12-01

9. The Corporation shall not, except with 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 issued by 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 issued by 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 or only one of the subsidiaries of the Corporation.

However, the provisions of the first paragraph do not apply to transactions between the Corporation and a subsidiary or between subsidiaries.

1999, c. 34, s. 9.