C-67.2 - Cooperatives Act

Section 221.2.5 Disposition versions

2024-02-21

221.2.5. The alienation of the immovable, other than by expropriation or forced sale, the establishment of emphyteusis on it or a change in its destination by any cooperative, other than a cooperative whose principal object is to assist its members in acquiring the ownership of a house or dwelling, must be authorized jointly by the Minister and by the Minister of Municipal Affairs, Regions and Land Occupancy, who may each subject their authorization to the conditions they determine.

The first paragraph does not apply to an immovable referred to in section 68.1 of the Act respecting the Société d’habitation du Québec (chapter S-8), or if the immovable is taken in payment or another hypothecary right relating to the immovable is exercised

(1)  by a hypothecary creditor whose business is making loans on real security;

(2)  by the Government, the federal government or one of their departments, agencies or bodies, or by a legal person established in the public interest.

2015, c. 3, s. 33; 2022, c. 25, s. 15; 2024, c. 2, s. 43.

2022-06-10

221.2.5. The alienation of the building, other than by expropriation or forced sale, the establishment of emphyteusis on it or a change in its destination by any cooperative, other than a cooperative whose principal object is to assist its members in acquiring the ownership of a house or dwelling, must be authorized jointly by the Minister and by the Minister of Municipal Affairs, Regions and Land Occupancy, who may each subject their authorization to the conditions they determine.

The first paragraph does not apply to an immovable referred to in section 68.1 of the Act respecting the Société d’habitation du Québec (chapter S-8), or if the building is taken in payment or another hypothecary right relating to the building is exercised

(1)  by a hypothecary creditor whose business is making loans on real security;

(2)  by the Government, the federal government or one of their departments, agencies or bodies, or by a legal person established in the public interest.

2015, c. 3, s. 33; 2022, c. 25, s. 15.

2015-04-29

221.2.5. The alienation of the building, other than by expropriation or forced sale, the establishment of emphyteusis on it or a change in its destination by any cooperative, other than a cooperative whose principal object is to assist its members in acquiring the ownership of a house or dwelling, must be authorized by the Minister, who may subject such authorization to the conditions the Minister determines.

The first paragraph does not apply if the building is taken in payment or another hypothecary right relating to the building is exercised

(1)  by a hypothecary creditor whose business is making loans on real security;

(2)  by the Government, the federal government or one of their departments, agencies or bodies, or by a legal person established in the public interest.

2015, c. 3, s. 33.