I-17

University Investments Act

Updated to 11November 30 2024

chapter I-17

University Investments Act

UNIVERSITY INVESTMENTS12December 31 1977

1. In this Act, the following expressions and words mean:

(a)  “university establishment” :

(1)  any of the educational institutions at the university level contemplated in paragraphs 1 to 11 of section 1 of the Act respecting educational institutions at the university level (chapter E-14.1);

(2)  (subparagraph repealed);

(3)  (subparagraph repealed);

(4)  any legal person whose object is to build and administer residences for students at the university level;

(b)  “investment” : any capital expenditure or expenditure for equipment, including the purchase price of furniture, fittings and tools or a library collection;

(c)  “Minister” : the Minister of Higher Education, Research, Science and Technology.

1968, c. 65, s. 1; 1985, c. 21, s. 96; 1988, c. 41, s. 88; 1989, c. 18, s. 7; 1993, c. 51, s. 72; 1994, c. 16, s. 50; 1999, c. 40, s. 162; 2005, c. 28, s. 195; 2013, c. 28, s. 201.

DIVISION I

INVESTMENTS ELIGIBLE FOR SUBSIDIES

2023, c. 302023, c. 30, s. 831.

1.1. Each year, after consulting with the university establishments referred to in subparagraph 1 of paragraph a of section 1, the Minister establishes and submits to the Conseil du trésor for approval budgetary rules for the determination of the amount of investment expenditures that is eligible for the subsidies to be allocated to university establishments.

2023, c. 302023, c. 30, s. 831.

1.2. The budgetary rules may provide that the allocation of a subsidy

(a)  may be made on the basis of general or specific standards;

(b)  may be subject to general conditions, determined by the rules or the Minister, applicable to all university establishments or to special conditions, determined by the rules or the Minister, applicable only to one or certain university establishments; or

(c)  may be subject to the authorization of the Minister or be made only to one or certain university establishments.

2023, c. 302023, c. 30, s. 831.

2. (Repealed).

1968, c. 65, s. 2; 1993, c. 26, s. 41; 2023, c. 302023, c. 30, s. 841.

3. (Repealed).

1968, c. 65, s. 3; 2023, c. 302023, c. 30, s. 841.

4. (Repealed).

1968, c. 65, s. 4; 1968, c. 9, s. 90; 1986, c. 75, s. 1; 2023, c. 302023, c. 30, s. 841.

5. (Repealed).

1968, c. 65, s. 5; 1982, c. 58, s. 41; 2023, c. 302023, c. 30, s. 841.

6. (Repealed).

1968, c. 65, s. 6; 1982, c. 58, s. 42; 2023, c. 302023, c. 30, s. 841.

6.1. (Repealed).

1982, c. 58, s. 43; 1985, c. 21, s. 96; 1986, c. 75, s. 2; 1988, c. 41, s. 88; 1990, c. 66, s. 10; 1993, c. 51, s. 72; 1994, c. 16, s. 50; 2005, c. 28, s. 195; 2013, c. 28, s. 201; 2016, c. 72016, c. 7, s. 183; 2023, c. 302023, c. 30, s. 841.

6.2. The Minister may entrust to the Minister of Finance the management of sums intended for the repayment of the principal of a loan in respect of which a subsidy has been granted, in order to constitute a sinking fund for the purpose of repaying, out of such sums, the principal of the loan, on the maturity dates under the terms of the loan.

The income of the sinking fund shall be used for the repayment of any duly authorized loan of any university establishment, or allocated for the repayment of any loan for which a sinking fund is constituted, in replacement of the sums that would otherwise be deposited under the first paragraph.

1990, c. 66, s. 11; 2016, c. 72016, c. 7, s. 183; 2023, c. 302023, c. 30, s. 8511.

DIVISION II

OTHER INVESTMENTS

2023, c. 302023, c. 30, s. 861.

6.3. The Minister may, by regulation, establish rules relating to the investments of the university establishments referred to in subparagraph 1 of paragraph a of section 1 for which no subsidies are allocated under Division I.

The rules may prescribe the information or documents that must be forwarded to the Minister by those establishments regarding their investments. The rules may also prescribe the cases in which an authorization from the Minister is required and, if applicable, the conditions relating to the issuance of such an authorization.

2023, c. 302023, c. 30, s. 861.

7. (Repealed).

1968, c. 65, s. 7; 2023, c. 302023, c. 30, s. 871.

8. (Repealed).

1968, c. 65, s. 8; 2023, c. 302023, c. 30, s. 871.

9. (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 1968, in force on 31 December 1977, is repealed, except sections 9 to 11, effective from the coming into force of chapter I-17 of the Revised Statutes.