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I-16.0.1 - Act respecting Investissement Québec
Section 35.7
Disposition versions
35.7. Each proposed investment of sums credited to the Fund is subject to authorization by the Minister and to a favourable opinion from the Minister of Natural Resources and Wildlife, the Minister of Finance and any other Minister designated by the Government, acting in concert on the recommendation of each of their respective departments.
In addition to the opinions referred to in the first paragraph, an investment project in an enterprise whose activities fall within the mission of another minister must be the object of a favourable opinion from the latter, on the recommendation of the government department under the latter’s responsibility.
Apart from the proposed investment of such sums referred to in section 12.1, a proposed investment that would result in an acquisition of control or cause the sums taken out of the Fund and invested in the same enterprise or in affiliated enterprises to exceed $50,000,000 may not be authorized by that minister and requires the authorization of the Government.
For the purposes of this subdivision, an enterprise is affiliated with another if one is the subsidiary of the other or if both are controlled by the same person. The definitions of the terms “subsidiary” and “control” in section 7 apply, with the necessary modifications.
35.7. Each proposed investment of sums credited to the Fund is subject to authorization by the Minister and to a favourable opinion from the Minister of Natural Resources and Wildlife, the Minister of Finance and any other Minister designated by the Government, acting in concert on the recommendation of each of their respective departments.
Apart from the proposed investment of such sums referred to in section 12.1, a proposed investment that would result in an acquisition of control or cause the sums taken out of the Fund and invested in the same enterprise or in affiliated enterprises to exceed $50,000,000 may not be authorized by those Ministers and requires the authorization of the Government.
