1. A person holding a valid driver’s licence of Category B issued by the competent authorities in France, who settles in Québec, may exchange that licence, without examination, for a driver’s licence of Class 42 issued by the Société de l’assurance automobile du Québec, on payment of the duties prescribed by regulation of the Government and the Société and of the amount fixed under section 151 of the Automobile Insurance Act (chapter A-25).