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H-5 - Hydro-Québec Act

Section 39
Disposition versions

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39. In no case may the Company, without the authorization of the Government, acquire or hold over 50% of the shares of another legal person or a sufficient percentage of them to elect the majority of the directors of the other legal person.
In no case where the Company acquires or holds either described percentage of the shares of another legal person may that other legal person itself, without the authorization of the Government, acquire or hold either such percentage of the shares of a third legal person.
The second paragraph does not apply to a legal person in which the Company holds shares on 26 April 1983.
R. S. 1964, c. 86, s. 40; 1978, c. 41, s. 1; 1983, c. 15, s. 22; 1999, c. 40, s. 145.
39. In no case may the Corporation, without the authorization of the Government, acquire or hold over 50% of the shares of another corporation or a sufficient percentage of them to elect the majority of the directors of the other corporation.
In no case where the Corporation acquires or holds either described percentage of the shares of another corporation may that other corporation itself, without the authorization of the Government, acquire or hold either such percentage of the shares of a third corporation.
The second paragraph does not apply to a corporation in which the Corporation holds shares on 26 April 1983.
R. S. 1964, c. 86, s. 40; 1978, c. 41, s. 1; 1983, c. 15, s. 22.
39. The Corporation may, with the authorization of the Government, purchase all or part of the shares or other securities of any company in possession of waterpowers or having the right to deal in power or to carry on any business which the Corporation is authorized to carry on.
R. S. 1964, c. 86, s. 40; 1978, c. 41, s. 1.
39. The Commission may, with the authorization of the Gouvernement, purchase all or part of the shares or other securities of any company in possession of waterpowers or having the right to deal in power or to carry on any business which the Commission is authorized to carry on.
R. S. 1964, c. 86, s. 40.
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