R-7 - Act respecting the Régie des installations olympiques

Section 23 Disposition versions

2008-01-01

23. The income of the board must be allotted primarily to its operations, to the payment of its administrative expenses, to the repayment of its loans and other obligations, to the repayment of sums advanced to it by the Minister of Finance in accordance with this Act, to the payment to Ville de Montréal of the sums required for the application of section 22 and, finally, to the repayment to Ville de Montréal, at the end of each fiscal year of the board, of the payments and the sums advanced by Ville de Montréal for the setting in place of the olympic installations and, as well, of the payments and sums advanced by the city for the other works and constructions executed by or for it on its territory in view of the Twenty-first Olympic Games, which payments and advances, if made after 18 November 1975, shall have been made with the authorization of the board.

On the date set by the Government, ownership of the olympic installations shall revert to Ville de Montréal, and section 17 shall be applicable, with the necessary changes, in particular by replacing the words “at the request of the board” therein by the words “at the request of the Executive Committee of Ville de Montréal”.

1975, c. 72, s. 24; 1996, c. 2, s. 848; 2007, c. 27, s. 3.

1996-05-08

23. The income of the board must be allotted primarily to its operations, to the payment of its administrative expenses, to the repayment of its loans and other obligations, to the repayment of sums advanced to it by the Minister of Finance in accordance with this Act, to the payment to Ville de Montréal of the sums required for the application of section 22 and, finally, to the repayment to Ville de Montréal, at the end of each fiscal year of the board, of the payments and the sums advanced by Ville de Montréal for the setting in place of the olympic installations and, as well, of the payments and sums advanced by the city for the other works and constructions executed by or for it on its territory in view of the Twenty-first Olympic Games, which payments and advances, if made after 18 November 1975, shall have been made with the authorization of the board.

As soon as, in the opinion of the Government, the loans and advances obtained from the Minister of Finance have been repaid and the loans and obligations of the board guaranteed by the Minister of Finance have been repaid and discharged, ownership of the olympic installations shall revert to Ville de Montréal, and section 17 shall be applicable, with the necessary changes, in particular by replacing the words “at the request of the board” therein by the words “at the request of the Executive Committee of Ville de Montréal”.

1975, c. 72, s. 24; 1996, c. 2, s. 848.

1977-12-31

23. The income of the board must be allotted primarily to its operations, to the payment of its administrative expenses, to the repayment of its loans and other obligations, to the repayment of sums advanced to it by the Minister of Finance in accordance with this act, to the payment to the City of Montréal of the sums required for the application of section 22 and, finally, to the repayment to the City of Montréal, at the end of each fiscal year of the board, of the payments and the sums advanced by the City of Montréal for the setting in place of the olympic installations and, as well, of the payments and sums advanced by the city for the other works and constructions executed by or for it on its territory in view of the Twenty-first Olympic Games, which payments and advances, if made after 18 November 1975, shall have been made with the authorization of the board.

As soon as, in the opinion of the Government, the loans and advances obtained from the Minister of Finance have been repaid and the loans and obligations of the board guaranteed by the Minister of Finance have been repaid and discharged, ownership of the olympic installations shall revert to the City of Montréal, and section 17 shall be applicable, with the necessary changes, in particular by replacing the words “at the request of the board” therein by the words “at the request of the Executive Committee of the City of Montréal”.

1975, c. 72, s. 24.