S-17 - Act respecting the Société générale de financement du Québec

Section 12 Disposition versions

1996-11-21

12. The Government may, on the conditions it determines

(a)  authorize the Minister of Finance to advance to the company any amount considered necessary for the carrying out of the company’s objects;

(b)  secure the payment in capital and interest of any loan of the company and guarantee the performance of any of its obligations;

(c)  make any commitment in respect of the carrying out or financing of a project.

The sums required for the purposes of this section shall be taken out of the consolidated revenue fund.

1976, c. 12, s. 6; 1977, c. 5, s. 14; 1983, c. 18, s. 7; 1996, c. 44, s. 9.

1983-06-22

12. The Government may, on such conditions as it may determine:

(a)  guarantee the payment of the sums of money payable by the company following the inexecution of its obligations under one or a number of contracts relating to an issue of bonds of the company called Donohue St-Félicien Inc. in view of the financing of an integrated forest complex for the production of bleached kraft pulp, in the region of Saint-Félicien;

(b)  authorize the Minister of Finance to grant a loan of $15 000 000 to the company, before 31 December 1978, at the rate of interest of 101/4% per annum, payable half-yearly, repayable in five instalments of $3 000 000 on 31 December in each of the years 1988 to 1992, in view of assisting in the financing of the forest complex mentioned in subparagraph a;

(c)  guarantee the payment of the sums relating to the financial undertakings contracted by the company or by a subsidiary of which the company holds more than 100% of the shares, for the establishment or financing of an aluminum plant in the Bécancour area;

(d)  give any other guarantee or undertaking in connection with the establishment or financing of the aluminum plant.

Sums which the Government may be called upon to pay under this section are taken out of the consolidated revenue fund.

1976, c. 12, s. 6; 1977, c. 5, s. 14; 1983, c. 18, s. 7.

1977-12-31

12. The Government may, on such conditions as it may determine:

(a)  guarantee the payment of the sums of money payable by the company following the inexecution of its obligations under one or a number of contracts relating to an issue of bonds of the company called Donohue St-Félicien Inc. in view of the financing of an integrated forest complex for the production of bleached kraft pulp, in the region of Saint-Félicien;

(b)  authorize the Minister of Finance to grant a loan of fifteen million dollars to the company, before 31 December 1978, at the rate of interest of 101/4% per annum, payable half-yearly, repayable in five instalments of three million dollars on 31 December in each of the years 1988 to 1992, in view of assisting in the financing of the forest complex mentioned in subparagraph a.

Sums which the Government may be called upon to pay under such guarantees or such loan shall be taken out of the consolidated revenue fund.

1976, c. 12, s. 6; 1977, c. 5, s. 14.