C-67.2 - Cooperatives Act

Section 188 Disposition versions

2015-04-29

188. If the cooperative fails to produce the compliance program provided for in section 185.5 or fails to implement the program to the Minister’s satisfaction within the time prescribed, the Minister shall give notice to the cooperative of the default and of the penalty to which the cooperative is liable.

If the cooperative fails to remedy the default within 60 days after the date of the notice, the Minister, after requesting the cooperative to continue under the Business Corporations Act (chapter S-31.1) or Part III of the Companies Act (chapter C-38) within a specified time, may order the cooperative dissolved.

If the cooperative continues under the Business Corporations Act or the Companies Act, it must, in accordance with the terms of an agreement with the Conseil québécois de la coopération et de la mutualité, pay to that council an amount equal to the amount of the reserve that appears in its financial statements at the end of the last fiscal year prior to the continuance.

1982, c. 26, s. 188; 2003, c. 18, s. 97; 2009, c. 52, s. 567; 2015, c. 3, s. 55.

2011-02-14

188. If the cooperative fails to produce the compliance program provided for in section 185.5 or fails to implement the program to the Minister’s satisfaction within the time prescribed, the Minister shall give notice to the cooperative of the default and of the penalty to which the cooperative is liable.

If the cooperative fails to remedy the default within 60 days after the date of the notice, the Minister, after requesting the cooperative to continue under the Business Corporations Act (chapter S-31.1) or Part III of the Companies Act (chapter C-38) within a specified time, may order the cooperative dissolved.

If the cooperative continues under the Business Corporations Act or the Companies Act, it must, in accordance with the terms of an agreement with the Conseil de la coopération du Québec, pay to that council an amount equal to the amount of the reserve that appears in its financial statements at the end of the last fiscal year prior to the continuance.

1982, c. 26, s. 188; 2003, c. 18, s. 97; 2009, c. 52, s. 567.

2005-11-17

188. If the cooperative fails to produce the compliance program provided for in section 185.5 or fails to implement the program to the Minister’s satisfaction within the time prescribed, the Minister shall give notice to the cooperative of the default and of the penalty to which the cooperative is liable.

If the cooperative fails to remedy the default within 60 days after the date of the notice, the Minister, after requesting the cooperative to continue under Part IA or Part III of the Companies Act (chapter C‐38) within a specified time, may order the cooperative dissolved.

If the cooperative continues under the Companies Act, it must, in accordance with the terms of an agreement with the Conseil de la coopération du Québec, pay to that council an amount equal to the amount of the reserve that appears in its financial statements at the end of the last fiscal year prior to the continuance.

1982, c. 26, s. 188; 2003, c. 18, s. 97.

1983-12-21

188. In the case of paragraph 6 of section 186, the Minister shall give the cooperative notice of its failure to observe the percentage determined by government regulation in the proportion of its business that it is required to carry on with its members.

If the cooperative does not increase the proportion of its business within the prescribed time, the Minister, after requesting the cooperative to continue to exist as a company within such time as he determines, may order the cooperative dissolved.

1982, c. 26, s. 188.