s-14 - Act respecting the Société des Traversiers du Québec

Updated to 22 October 1999

This document has official status.

chapter S-14

Act respecting the Société des Traversiers du Québec

1. A joint-stock company, hereinafter called “the Company”, is constituted under the name of “Société des Traversiers du Québec”.

1971, c. 65, s. 1; 1974, c. 62, s. 2; 1977, c. 5, s. 14; 1999, c. 40, s. 286.

2. The head office of the Company shall be in the territory of the Communauté urbaine de Québec or in its immediate vicinity.

1971, c. 65, s. 2; 1977, c. 5, s. 14; 1996, c. 2, s. 914.

3. The objects of the Company shall be:

(a)  to provide transportation services by ferry-boat across rivers and lakes situated in Québec and excursion services on such rivers and lakes, and, aboard its vessels, accessory or complementary services;

(b)  to acquire, hold or alienate the property required for such services, and to carry out or cause to be carried out all work intended to ensure such services.

With the authorization of the Minister of Transport, the Company may also provide accessory or complementary services on land, if they are related to its objects.

1971, c. 65, s. 3; 1974, c. 62, s. 3; 1975, c. 46, s. 1; 1999, c. 40, s. 286.

4. The authorized capital of the Company shall be $10 000 000.

It shall be divided into 100,000 shares of the par value of $100 each.

1971, c. 65, s. 4; 1975, c. 46, s. 2.

5. The shares of the Company shall form part of the domain of the State and shall be reserved for the Minister of Finance.

1971, c. 65, s. 5; 1975, c. 46, s. 3; 1999, c. 40, s. 286.

6. The affairs of the Company shall be managed by a board of five directors, including a president and a vice-president, appointed by the Government. Such directors shall be the directors of the Company within the meaning of the Companies Act.

1971, c. 65, s. 7.

7. The term of office and the salary or, if necessary, the additional salary, allowances or fees of the directors shall be determined by the Government.

1971, c. 65, s. 8.

8. Any functionary of the Government or of one of its bodies may be president, vice-president or another director of the Company.

1971, c. 65, s. 9; 1977, c. 5, s. 14.

9. Each director, including the president and the vice-president, shall remain in office after the expiry of his term, until replaced or reappointed.

1971, c. 65, s. 10.

10. No person shall hold office as a director unless domiciled in Québec, but no share qualification shall be required.

1971, c. 65, s. 11.

11. No director shall, under pain of forfeiture of his office, have any direct or indirect interest in an undertaking putting his personal interest in conflict with that of the Company.

Such forfeiture shall not be incurred, however, if such interest devolves to him by succession or gift, provided that he renounces or disposes of it with all possible dispatch.

1971, c. 65, s. 12.

12. The president shall be the general manager of the Company and must devote his time exclusively to the work of the Company and the duties of his office.

He shall be responsible for the administration of the Company within the scope of its by-laws.

1971, c. 65, s. 13.

13. The Company may do whatever is necessary, accessory or favourable to the carrying out of its objects and in particular:

(a)  contract loans by notes, bonds or other securities, at such rate of interest and on such other conditions as the Government determines;

(b)  allow the president, the person in charge of purchasing at Québec or local managers of the Company elsewhere than at Québec to authorize alone current expenses not exceeding $5 000.

1971, c. 65, s. 14; 1975, c. 46, s. 5.

14. The Company shall not, without the prior authorization of the Government:

(a)  contract a loan which increases its total outstanding borrowings to more than $500 000;

(b)  acquire, hold or transfer shares or other interests in any undertaking whose objects are similar to those of the Company;

(c)  associate itself with any person or firm for the carrying out of its objects;

(d)  make by-laws respecting the exercise of its powers and its internal management.

1971, c. 65, s. 15.

15. The Company may, with the authorization of the Government, acquire by expropriation any immovable, part of an immovable or real right which it requires for the carrying out of its objects, including any immovable, part of an immovable or real right devoted to public use or not liable to expropriation under a general law or special Act.

1971, c. 65, s. 16 (part).

16. The Company shall be subject to the application of the regulations made under section 49 of the Financial Administration Act (chapter A-6) respecting contracts to which it is a party and which entail a consideration or value greater than $25 000, except cases of urgent repairs.

1971, c. 65, s. 17.

17. The dividends paid by the Company shall be fixed by the Government and not by the directors.

No dividend the payment of which would reduce the Company’s accumulated surplus to less than one-third of its paid-up capital shall be declared.

1971, c. 65, s. 18.

18. The fiscal year of the Company shall end on 31 March each year.

1971, c. 65, s. 19.

19. The Company shall, not later than 30 June each year, submit a report on its activities for its previous fiscal year, with the anticipated budget for the two ensuing years, to the Minister of Transport.

Such report must also contain all the information which the Minister requires.

Such report shall be laid before the National Assembly within thirty days if in session or, if not, within ten days after the opening of the next session.

1971, c. 65, s. 20; 1972, c. 54, s. 32.

20. The accounts of the Company shall be audited each year by the Auditor General of Québec and also whenever the Government so orders.

1971, c. 65, s. 21.

21. Sections 159 to 162 of the Companies Act shall not apply to the Company.

1971, c. 65, s. 22.

22. The Minister of Transport shall have charge of the application of this Act.

1971, c. 65, s. 23; 1972, c. 54, s. 32.

23. (This section ceased to have effect on 17 April 1987).

1982, c. 21, s. 1; U. K., 1982, c. 11, Sch. B, Part I, s. 33.

REPEAL SCHEDULE

In accordance with section 17 of the Act respecting the consolidation of the statutes (chapter R-3), chapter 65 of the statutes of 1971, in force on 31 December 1977, is repealed, except section 24, effective from the coming into force of chapter S-14 of the Revised Statutes.