S-13 - Act respecting the Société des alcools du Québec

Section 20 Disposition versions

2018-08-07

20. In no case may the Société, without the authorization of the Government,

(1)  make a financial commitment in excess of the limits, terms and conditions fixed by the Government;

(2)  acquire, construct or assign an immovable in excess of the limits or contrary to the terms and conditions determined by the Government; or

(3)  contract a loan which brings the total amount of its outstanding borrowings to an amount greater than that fixed by the Government.

This section does not apply to transactions between the Société and its subsidiaries or between its subsidiaries.

The Government may determine that a provision of the first paragraph applies to the group consisting of the Société and its subsidiaries or to one or more members of that group.

1971, c. 20, s. 20; 1977, c. 5, s. 14; 1983, c. 30, s. 5; 1986, c. 111, s. 2; 1999, c. 40, s. 283; 2011, c. 18, s. 72; 2018, c. 19, s. 5.

2011-06-13

20. In no case may the Société, without the authorization of the Government,

(1)  make a financial commitment in excess of the limits, terms and conditions fixed by the Government;

(2)  construct, acquire or assign an immovable in consideration of sums greater than the amounts determined by the Government;

(3)  contract a loan which brings the total amount of its outstanding borrowings to an amount greater than that fixed by the Government.

This section does not apply to transactions between the Société and its subsidiaries or between its subsidiaries.

The Government may determine that a provision of the first paragraph applies to the group consisting of the Société and its subsidiaries or to one or more members of that group.

1971, c. 20, s. 20; 1977, c. 5, s. 14; 1983, c. 30, s. 5; 1986, c. 111, s. 2; 1999, c. 40, s. 283; 2011, c. 18, s. 72.

1999-10-22

20. In no case may the Société, without the authorization of the Government,

(1)  make a financial commitment in excess of the limits, terms and conditions fixed by the Government;

(2)  construct, acquire or assign an immovable in consideration of sums greater than the amounts determined by the Government;

(3)  contract a loan which brings the total amount of its outstanding borrowings to an amount greater than that fixed by the Government.

1971, c. 20, s. 20; 1977, c. 5, s. 14; 1983, c. 30, s. 5; 1986, c. 111, s. 2; 1999, c. 40, s. 283.

1999-04-01

20. In no case may the Corporation, without the authorization of the Government,

(1)  make a financial commitment in excess of the limits, terms and conditions fixed by the Government;

(2)  construct, acquire or assign an immovable in consideration of sums greater than the amounts determined by the Government;

(3)  contract a loan which brings the total amount of its outstanding borrowings to an amount greater than that fixed by the Government.

1971, c. 20, s. 20; 1977, c. 5, s. 14; 1983, c. 30, s. 5; 1986, c. 111, s. 2.

1983-10-19

20. In no case may the Corporation, without the authorization of the Conseil du trésor, make a contract respecting movable or immovable property in consideration of a sum higher than $300 000.

1971, c. 20, s. 20; 1977, c. 5, s. 14; 1983, c. 30, s. 5.

1977-12-31

20. The Corporation may not, without the authorization of the Conseil du trésor:

(a)  make a contract binding it for more than five years;

(b)  make a contract respecting moveable or immoveable property in consideration of a sum higher than $100,000;

(c)  contract a loan which brings to more than $500,000 the total of the sums borrowed by it and outstanding.

1971, c. 20, s. 20; 1977, c. 5, s. 14.