G-1.01, r. 3.001.1 - Regulation respecting the practice of the profession of geologist within a partnership or a joint-stock company

Section 3 Disposition versions

2013-04-18

3. A geologist may carry on professional activities within a limited liability partnership or a joint-stock company if

(1)  more than 50% of the voting rights attached to the shares or units of the partnership or joint-stock company are held by

(a)  members of a professional order governed by the Professional Code (chapter C-26) or by persons subject to similar rules;

(b)  legal persons, trusts or other enterprises whose voting rights attached to the shares or units, ownership interests or other rights are held entirely by one or more persons referred to in subparagraph a; or

(c)  a combination of persons, trusts or enterprises referred to in subparagraphs a and b;

(2)  the members of the board of directors of the joint-stock company, the partners or, where applicable, the directors appointed by the partners to manage the affairs of the limited liability partnership are a majority of the persons referred to in subparagraph a of subparagraph 1 of the first paragraph who constitute the majority of the quorum of the board of directors or internal management board, as the case may be; and

(3)  at least one geologist carrying on professional activities within the partnership or company holds a voting share or unit.

A geologist must ensure that the conditions are stipulated in the contract constituting the limited liability partnership or appear in the articles of constitution of the joint-stock company, the unanimous shareholders’ agreement or in any other document related to the constitution and operation of the partnership or company. A geologist must also ensure that it is provided that the partnership or joint-stock company is constituted for the purpose of the carrying on of professional activities.

O.C. 221-2013, s. 3.