7. A municipality may lease, for industrial, para-industrial or research purposes, an immovable acquired, built or converted by it under this Act.
The duration of a lease relating to premises located in an industrial rental building shall not exceed five years. The municipality may, however, upon expiry of the lease and with the prior authorization of the Minister of Industry, Trade and Technology and the Minister of Municipal Affairs, grant a further lease to the same enterprise.
The Government may, by regulation, require, in such cases as it may determine, that the leasing of an immovable pursuant to the first paragraph be approved by the Minister of Industry, Trade and Technology, or by that Minister and the Minister of Municipal Affairs.
1984, c. 10, s. 7; 1985, c. 27, s. 108; 1989, c. 60, s. 5.