C-41 - Trust Companies Act

Section 17 Disposition versions

1983-04-01

17. Notwithstanding any contrary provision of any law, charter or letters patent, a trust company incorporated under a law of Québec shall not have the power to amalgamate with an extra-provincial company or a foreign company, or to sell to it the whole of its property, rights, business and mandates.

The Government, however, upon the recommendation of the Minister, may authorize such amalgamation or sale upon the conditions determined by it and upon the condition, especially, that the amalgamation or sale above mentioned be authorized and approved in accordance with section 16.

Before making the recommendation provided for in the second paragraph, the Minister must obtain the opinion of the Inspector General.

R. S. 1964, c. 287, s. 17; 1966-67, c. 72, s. 23; 1975, c. 76, s. 11; 1981, c. 9, s. 24; 1982, c. 52, s. 147.

1981-06-18

17. Notwithstanding any contrary provision of any law, charter or letters patent, a trust company incorporated under a law of Québec shall not have the power to amalgamate with an extra-provincial company or a foreign company, or to sell to it the whole of its property, rights, business and mandates.

The Government, however, upon the recommendation of the Minister of Financial Institutions and Cooperatives, may authorize such amalgamation or sale upon the conditions determined by it and upon the condition, especially, that the amalgamation or sale above mentioned be authorized and approved in accordance with section 16.

R. S. 1964, c. 287, s. 17; 1966-67, c. 72, s. 23; 1975, c. 76, s. 11; 1981, c. 9, s. 24.

1977-12-31

17. Notwithstanding any contrary provision of any law, charter or letters patent, a trust company incorporated under a law of Québec shall not have the power to amalgamate with an extra-provincial company or a foreign company, or to sell to it the whole of its property, rights, business and mandates.

The Government, however, upon the recommendation of the Minister of Consumer Affairs, Cooperatives and Financial Institutions, may authorize such amalgamation or sale upon the conditions determined by it and upon the condition, especially, that the amalgamation or sale above mentioned be authorized and approved in accordance with section 16.

R. S. 1964, c. 287, s. 17; 1966-67, c. 72, s. 23; 1975, c. 76, s. 11.