G-1 - Act respecting the guarantee of certain loans to publishers and booksellers

Section 26 Disposition versions

1977-12-31

26. The Gouvernement may, by regulation, decide any question which may, under this act, be subject to regulation.

It may, in addition, by regulation, determine:

(a)  the qualifications required of any person who applies for the guarantee of a loan, the conditions he must meet and the information he must furnish in addition to that already required by this act;

(b)  the form and tenor of applications;

(c)  the maximum term for loans which may be guaranteed under this act, the maximum rate of interest payable according to the classes of loans and borrowers, the security which must be given and the manner in which it is to be protected and realized in case of default by the borrower, the portion of the capital necessary for the carrying out of a project which must be furnished by the borrower, the manner in which the loans must be used, the form and tenor of the deeds evidencing the loans and the other conditions which must be stipulated therein;

(d)  the standards and rules relating to the management of the borrower’s affairs and to the distribution of his profits;

(e)  the operating reports and financial statements which must be forwarded to the Minister by every borrower and the supervision which may be exercised over his affairs;

(f)  the authorizations which must be obtained before any transfer of property given as security under the deed of loan, any issue of bonds or transfer of shares of a company which has obtained a loan, or any amendment to the charter of such company;

(g)  the method of valuing inventories and accounts receivable to be used in determining the limits applicable to loans;

(h)  the form and tenor of the periodical reports which must be furnished by a borrower;

(i)  the cases in which the accounts receivable of companies associated or affiliated with the borrower may be used to establish the limit provided for by section 4.

Such regulations shall come into force on the date of their publication in the Gazette officielle du Québec or on any later date fixed therein.

1975, c. 15, s. 26.