S-12 - Act respecting the Société de récupération, d’exploitation et de développement forestiers du Québec

Section 22 Disposition versions

1996-06-20

22. The Government may, on such conditions as it determines:

(a)  guarantee the payment in principal and interest of any loan of the Company or of a subsidiary of which it holds more than 50 % of the shares, and the carrying out of any of the obligations of the Company or of any such subsidiary;

(b)  (subparagraph repealed);

(c)  authorize the Minister of Finance to advance to the Company or to a subsidiary contemplated in subparagraph a any amount considered necessary for the exercise of the powers of the Company or of such a subsidiary, at such rate of interest, for such period and on such other conditions as the Government determines.

The sums that the Government may be called upon to pay under those guarantees or that the Minister of Finance advances to the Company or to a subsidiary are taken out of the consolidated revenue fund.

1973, c. 21, s. 22; 1977, c. 5, s. 14; 1979, c. 8, s. 11; 1996, c. 24, s. 11.

1979-05-17

22. The Government may, on such conditions as it determines:

(a)  guarantee the payment in principal and interest of any loan of the Company or of a subsidiary of which it holds more than 50% of the shares, and the carrying out of any of the obligations of the Company or of any such subsidiary;

(b)  authorize the Minister of Finance to advance to the Company, for such time and on such other conditions as the Government determines, any amount considered necessary, up to $25 000 000, for the acquisition of machinery and equipment, the equipment of installations and the erection of structures, to enable it to contribute toward the supplying of raw materials to forest industries and the stabilization of such industries, and to promote the cutting, barking, sawing, machine finishing and sale of wood and wood products;

(c)  authorize the Minister of Finance to advance to the Company or to a subsidiary contemplated in subparagraph a any amount considered necessary for the exercise of the powers of the Company or of such a subsidiary, at such rate of interest, for such period and on such other conditions as the Government determines.

The sums that the Government may be called upon to pay under those guarantees or that the Minister of Finance advances to the Company or to a subsidiary are taken out of the consolidated revenue fund.

1973, c. 21, s. 22; 1977, c. 5, s. 14; 1979, c. 8, s. 11.

1977-12-31

22. The Gouvernement may, on such conditions as it determines:

(a)  guarantee the payment in principal and interest of any loan of the Company and the performance of any of its obligations;

(b)  authorize the Minister of Finance to advance to the Company, for such time and on such other conditions as the Gouvernement determines, any amount considered necessary, up to $25 million, for the acquisition of machinery and equipment, the equipment of installations and the erection of structures, to enable it to contribute toward the supplying of raw materials to forest industries and the stabilization of such industries, and to promote the cutting, barking, sawing, machine finishing and sale of wood and wood products;

(c)  authorize the Minister of Finance to advance to the Company any amount considered necessary for the carrying out of the other provisions of this act, at such rate of interest, for such period and on such other conditions as the Gouvernement determines.

The sums that the Gouvernement may be called upon to pay under such guarantees or to advance to the Company shall be taken out of the consolidated revenue fund.

1973, c. 21, s. 22; 1977, c. 5, s. 14.