S-25.1 - Act respecting the sociétés d’entraide économique

Section 6 Disposition versions

1982-01-13

6. The conversion plan and a summary of such plan must be forwarded to the Minister for approval.

The summary of the plan must contain

(1)  the data enabling the members to establish how many of their shares will be converted into shares of the company, and how many into deposits;

(2)  the description of the characteristics of such shares and deposits;

(3)  as the case may be, the proportion of the operating surplus that may, for the current fiscal year, be allocated to the payment of interest on the sums paid on shares or to the payment of rebates to depositors or borrowers;

(4)  all other information determined by the Minister.

The Minister may approve, with or without amendments, the conversion plan and the summary of such plan.

1981, c. 31, s. 6.