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F-3.2.0.4 - Act respecting security funds
Section 39
Disposition versions
39. The fund may acquire and hold fully paid preferred shares issued by a legal person constituted in Canada and carrying on business in Québec,
(1) if the legal person which issued them has, during each of the five years preceding the acquisition, earned and paid on its preferred shares issued and not redeemed a dividend at least equal to the rate specified for such shares; and
(2) if the legal person has, during each of the five years preceding the acquisition, earned and paid on its common shares a dividend of at least 4% of their book value.
39. The corporation may acquire and hold fully paid preferred shares issued by a corporation incorporated in Canada and carrying on business in Québec,
(1) if the corporation which issued them has, during each of the five years preceding the acquisition, earned and paid on its preferred shares issued and not redeemed a dividend at least equal to the rate specified for such shares; and
(2) if the corporation has, during each of the five years preceding the acquisition, earned and paid on its common shares a dividend of at least 4% of their book value.
