85. Where no guaranty plan meets, or the guaranty contract fails to meet, the standards and criteria established by regulation pursuant to paragraph 19.6 of section 185 within the 12 months following the coming into force of the regulation or where, within that time, no manager has been authorized in accordance with section 81, the Board may, by regulation, require security from any contractor for the purpose of compensating those of his clients who have sustained a loss as a result of a failure to carry out or the carrying out of construction work related to a building, to facilities or installations referred to in paragraph 2, 3 or 3.1 of section 2 or to a civil engineering structure, in the cases and within the limits determined by regulation.
The same applies where an approved guaranty plan or guaranty contract no longer meets the standards and criteria established by regulation pursuant to paragraph 19.6 of section 185.
1985, c. 34, s. 85; 1991, c. 74, s. 46; 1998, c. 46, s. 27; 2005, c. 10, s. 46.