P-16 - Act respecting the special powers of legal persons

Section 32 Disposition versions

1994-01-01

32. The person holding the power of attorney of the creditors in whose favour a hypothec is granted to secure payment of bonds or other titles of indebtedness cannot purchase from the company the first issue, by underwriting, purchase, subscription or otherwise, of the bonds or other titles of indebtedness secured by hypothec, and likewise no partnership or legal person whereof the said person is a member or officer, as the case may be, may become purchaser of the above-mentioned bonds or other titles of indebtedness.

R. S. 1964, c. 275, s. 27; 1992, c. 57, s. 645.

1977-12-31

32. The trustee in whose favour the hypothec, mortgage or pledge provided for in this Division VII may be constituted cannot purchase from the company the first issue, by underwriting, purchase, subscription or otherwise, of the bonds, debentures or debenture-stock, secured by hypothec, mortgage or pledge under the foregoing section 27, and likewise no partnership or corporation whereof the said trustee is a member or officer, as the case may be, may become purchaser of the bonds, debentures or debenture-stock above mentioned.

R. S. 1964, c. 275, s. 27.