M-25 - Act respecting the Ministère des Institutions financières et Coopératives

Repealed on 1 April 1983

This document has official status.

chapter M-25

Act respecting the Ministère des Institutions financières et Coopératives

Repealed, 1982, c. 52, s. 209.

1981, c. 9, s. 20; 1982, c. 52, s. 209.

DIVISION I ORGANIZATION OF THE DEPARTMENT

1. The Minister of Financial Institutions and Cooperatives shall have charge of the direction and administration of the Ministère des Institutions financières et Coopératives.

1966-67, c. 72, s. 1; 1975, c. 76, s. 2; 1977, c. 5, s. 14; 1981, c. 9, s. 21.

2. The Minister shall have charge of the carrying out of the laws respecting the incorporation, operation, inspection and winding-up of financial institutions, companies and cooperatives doing business in Québec, and of the laws respecting trading in securities, real estate brokerage and the receipt of deposits.

He shall also have charge of the carrying out of the acts respecting the other corporations doing business in Québec whose administration is not entrusted to another minister.

1966-67, c. 72, s. 2; 1969, c. 26, s. 103; 1975, c. 76, s. 3; 1981, c. 9, s. 22.

3. In addition to the powers conferred upon him under each act that he is required to carry out, the Minister, on his own initiative or following a complaint, may make any inquiry, question any person, require any information, examine any document or writing in order to ascertain if a fraudulent act or an offence against this act or any other act that he is required to carry out has been or is about to be committed.

He may also authorize in writing any person to make such inquiries for him.

1966-67, c. 72, s. 3.

4. The first paragraph of section 6 and sections 9, 10, 11, 12 and 13 of the Act respecting public inquiry commissions (chapter C-37) shall apply, mutatis mutandis, to inquiries made under section 3.

Every person authorized by the Minister to make such inquiries must, on the document evidencing the authorization of the Minister, agree to fulfil the duties imposed on him by this act, and by the applicable provisions of the Act respecting public inquiry commissions (chapter C-37), to the best of his knowledge and judgment.

Such engagement has the same value as an oath taken before a judge by a commissioner under the said Act respecting public inquiry commissions.

1966-67, c. 72, s. 4; 1975, c. 76, s. 4.

5. If, in the course of an inquiry, it appears to the Minister that an offence has been committed against this or another act that he is required to carry out, he may seize and remove any record, book, account, voucher, letter, telegram or other document and keep them until they are produced in any judicial proceedings.

Any book, record or other document which has been the object of an examination by the Minister or taken into possession by or produced to him may be copied or photographed and any copy or photograph of such book, record or document, certified by the Minister as being a copy or photograph of the original, is admissible in evidence and has the same probative force as the original.

The Minister may authorize in writing any person to exercise the powers conferred upon him by this section.

1966-67, c. 72, s. 5.

6. With the authorization of the Government, the Minister may make agreements with any government or governmental organization to promote the carrying out of this act.

1966-67, c. 72, s. 6.

7. Within thirty days of the opening of each session, the Minister shall make to the Legislature a return of his activities during the preceding fiscal year.

1966-67, c. 72, s. 7.

8. The Government shall appoint a Deputy Minister of Financial Institutions and Cooperatives in accordance with the Civil Service Act (chapter F-3.1).

It shall also, upon the recommendation of the Prime Minister, appoint at least one associate deputy minister; each associate deputy minister shall form part of the civil service as soon as he is appointed.

1966-67, c. 72, s. 8; 1969, c. 14, s. 45; 1975, c. 76, s. 5; 1981, c. 9, s. 23.

9. Under the direction of the Minister, the deputy minister shall supervise the other functionaries and employees of the department and administer the day-to-day business thereof and exercise such other powers as are assigned to him by the Government. He shall have the powers conferred on the Minister by sections 3, 4 and 5.

Under the authority of the Minister and the deputy minister, and having regard to the coordination established in the department, one of the associate deputy ministers shall be responsible for the carrying out of laws respecting the incorporation, operation, inspection and winding-up of the cooperatives doing business in Québec.

The associate deputy ministers shall also exercise the powers of the deputy minister in such classes of matters as the Minister determines.

1966-67, c. 72, s. 9.

10. The orders of the deputy minister shall be carried out in the same manner as those of the Minister; his authority shall be that of the incumbent minister of the department and his official signature shall give force and authority to any document within the competence of the department.

1966-67, c. 72, s. 10; 1978, c. 15, s. 140.

11. The other functionaries and employees necessary for the proper administration of the department shall be appointed and remunerated in accordance with the Civil Service Act.

1966-67, c. 72, s. 11; 1969, c. 26, s. 104; 1978, c. 15, s. 140.

12. The respective duties of the functionaries and employees of the department not expressly defined by law or by the Government shall be determined by the Minister.

1966-67, c. 72, s. 12.

13. No person employed in the service of Her Majesty, or authorized by the Minister to make an inquiry contemplated in section 3, shall communicate to anyone whomsoever other than a person generally or specially authorized by the Minister himself any information obtained under the provisions of this act, or allow any person not authorized in the same manner to inspect or have access to any statement or return furnished under the provisions of this act.

Any person violating any of the provisions of this section shall be liable to a fine of not less than twenty-five dollars and of not more than two hundred dollars, and costs, and, in default of payment of the fine and costs, to imprisonment for one to three months.

1966-67, c. 72, s. 13.

14. No deed, document or writing shall bind the department or be attributed to the Minister, unless it is signed by him, by the deputy minister or by a functionary, and only, in the case of the latter, to the extent determined by regulation of the Government published in the Gazette officielle du Québec.

The Government may however, on the conditions it determines, allow the required signature to be affixed by an automatic device to the documents it determines.

The Government may also allow a facsimile of the required signature to be engraved, lithographed or printed on the documents it determines; in such case, the facsimile has the same value as the signature itself if the document is countersigned by a person authorized by the Minister.

1966-67, c. 72, s. 14; 1975, c. 76, s. 6.

15. Any copy of a document forming part of the records of the department, certified true by the Minister or the deputy minister, shall be authentic and shall have the same force as the original.

1966-67, c. 72, s. 15.

16. Nothing in this act shall affect the rights and powers of the Auditor General of Québec.

1966-67, c. 72, s. 16; 1970, c. 17, s. 102.

DIVISION II CONSEIL CONSULTATIF DES INSTITUTIONS FINANCIÈRES

17. A Conseil consultatif des institutions financières is established.

1966-67, c. 72, s. 17; 1975, c. 76, s. 7; 1977, c. 5, s. 14.

18. The duties of the advisory council shall be:

(a)  to advise the Minister on any matter he submits to it in respect of any subject pertaining to the field of financial institutions;

(b)  to undertake, with the prior approval of the Minister, the study of any matter pertaining to the field of financial institutions and to carry out or have carried out any research it deems useful or necessary;

(c)  to exercise any other advisory capacity the Government may assign to it.

The advisory council may receive and hear petitions and suggestions from individuals and groups on any matter contemplated in this section.

1966-67, c. 72, s. 18; 1975, c. 76, s. 7.

19. The advisory council shall communicate its findings and conclusions to the Minister and make such recommendations to him as it deems appropriate.

The Minister may make the studies of the advisory council public.

1966-67, c. 72, s. 19; 1975, c. 76, s. 7.

20. The advisory council shall be composed of at least fifteen members, appointed for one year by the Government.

It shall also include the following persons, who shall sit thereon without the right to vote: the deputy minister, the associate deputy minister contemplated in the second paragraph of section 9, the chairman of the Commission des valeurs mobilières du Québec and the Superintendent of Insurance.

1966-67, c. 72, s. 20; 1975, c. 76, s. 7; 1977, c. 5, s. 14.

21. The Government shall appoint a chairman and a vice-chairman from among the persons contemplated in the first paragraph of section 20.

1966-67, c. 72, s. 21; 1975, c. 76, s. 7.

22. The members of the advisory council contemplated in the first paragraph of section 20 shall remain in office notwithstanding the expiry of their term until they are reappointed or replaced.

1966-67, c. 72, s. 22; 1975, c. 76, s. 7.

23. Every vacancy occuring during the term of a member of the advisory council contemplated in the first paragraph of section 20 shall be filled for the remainder of his term.

1966-67, c. 72, s. 23; 1969, c. 26, s. 105; 1975, c. 76, s. 7.

24. The chairman shall manage the activities of the advisory council and coordinate its work; he shall ensure liaison between the advisory council and the Minister.

1966-67, c. 72, s. 24; 1975, c. 76, s. 7.

25. The members of the advisory council contemplated in the first paragraph of section 20 shall not be remunerated. However, they are entitled to the reimbursement of reasonable expenses incurred in the performance of their duties and shall receive an attendance allowance fixed by the Government.

1966-67, c. 72, s. 25; 1975, c. 76, s. 7.

26. The secretary and the other officers and employees of the advisory council shall be appointed and remunerated under the Civil Service Act.

1975, c. 76, s. 7; 1978, c. 15, s. 140.

27. The advisory council may hold its sittings at any place in Québec.

It may meet as often as necessary for the exercise of its duties and capacities.

It must also meet at the request of the Minister at the date and place determined by him. Any matter determined by the Minister which falls within its competence may then be referred to it.

1975, c. 76, s. 7.

28. If the chairman is unable to act, he shall be replaced by the vice-chairman.

1975, c. 76, s. 7.

29. The advisory council, not later than 30 June each year, shall submit a report of its activities for the preceding fiscal year to the Minister, who shall communicate it to the National Assembly.

1975, c. 76, s. 7.

DIVISION III SPECIAL PROVISION

30. This Act shall operate notwithstanding the provisions of sections 2 and 7 to 15 of the Constitution Act, 1982 (Schedule B of the Canada Act, chapter 11 in the 1982 volume of the Acts of the Parliament of the United Kingdom).

1982, c. 21, s. 1.

REPEAL SCHEDULE

In accordance with section 17 of the Act respecting the consolidation of the statutes (chapter R-3), chapter 72 of the annual statutes of 1966/1967, in force on 31 December 1977, is repealed effective from the coming into force of chapter M-25 of the Revised Statutes.

This Act will be repealed upon the coming into force of section 209 of chapter 52 of the statutes of 1982 on the date fixed by proclamation of the Government.