R-7, r. 2 - Regulation respecting contracts for the alienation of surplus movable property

Section 4 Disposition versions

2012-09-01

4. A contract of sale by agreement for surplus movable property cannot be entered into without the authorization of the board of directors of the Board, unless:

(a)  tenders have been called for, except:

i.  where there is only one possible buyer;

ii.  where the estimated amount of the sale is less than $200;

iii.  where it is preferable that the business establisment of the buyer be near the property to be alienated; or

iv.  where the property to be alienated is sold to a legal person or a non-profit organization, on condition that the amount of the transaction is under $1,000 and that the amount is at least equal to the estimated value of the property to be alienated;

(b)  the estimated amount of the sale is less than $50,000; and

(c)  the contract was not granted to the highest conformable tenderer when tenders were called for;

in such cases a sales contract for surplus movable property may be entered into with the authorization of the president and chief executive officer or any other person designated by the board of directors of the Board.

R.R.Q., 1981, c. R-7, r. 3, s. 4.