R-15.1, r. 6.2 - General Regulation respecting supplemental pension plans

Section 68 Disposition versions

2012-09-01

68. A plan may acquire and hold fully paid preferred shares of a corporation or of a cooperative agricultural association if during each of the 5 years preceding the acquisitions, one or the other, as the case may be, has:

(a)  paid on its preferred shares a dividend or interest equal to at least the weighted average of the annual dividend rates or interests specified on its preferred shares; or

(b)  obtained on its common shares the yield provided for in the first paragraph of section 69.

A plan may acquire and hold fully paid preferred shares of a cooperative association if during each of the 5 years preceding the acquisition, the latter has:

(a)  paid interest on its preferred shares or obtained a yield on them equal to at least the weighted average of the annual rates of interest or yield specified on its preferred shares; or

(b)  obtained on its shares the yield provided for in the first paragraph of section 69.

R.R.Q., 1981, c. R-17, r. 1, s. 68.