S-22 - Act respecting the Société québécoise d’initiatives pétrolières

Section 17 Disposition versions

1981-04-01

17. Without the authorization of the Government, the Company shall not:

(a)  exercise its powers respecting the objects contemplated in subparagraph b of section 3;

(b)  acquire or hold over 50% of the shares or property of an undertaking;

(c)  contract any loan which increases to more than $500 000 its total outstanding borrowings;

(d)  dispose of all or part of its mining property, except by auction or public tender;

(e)  make by-laws respecting the exercise of its powers and its internal management;

(f)  enter into contracts or agreements respecting the objects contemplated in subparagraph c of the first paragraph of section 3.

1969, c. 36, s. 14; 1980, c. 27, s. 6.

1977-12-31

17. Without the authorization of the Government, the Company shall not:

(a)  exercise its powers respecting the objects contemplated in sub-paragraph b of section 3;

(b)  acquire shares or property of undertaking pursuing the same or similar objects;

(c)  contract any loan which increases to more than $500,000 its total outstanding borrowings;

(d)  dispose of all or part of its mining property;

(e)  make by-laws respecting the exercise of its powers and its internal management.

1969, c. 36, s. 14.