121.1. The powers exercised by the Société or by a body that is party to a contract referred to in section 118 or 120 under subparagraph 7 of the first paragraph of section 121 must be exercised by by-law.
A copy of the by-law must be sent to the Minister for approval.
The by-law comes into force on the date the Société or body receives a notice of approval from the Minister or, failing such a notice, 30 days after the by-law was sent to the Minister.