S-29.01 - Act respecting trust companies and savings companies

Section 171 Disposition versions

1988-06-09

171. Every Québec savings company and, if so authorized by its instrument of incorporation, every extra-provincial savings company may, in addition to borrowing funds from the public in the form of deposits for the purposes of loans and investments, carry on the activities contemplated in paragraphs 7 and 8 of section 170.

The Government may also, after obtaining the advice of the Minister, authorize a company, a specific group of companies or all the companies governed by this Act to carry on any other activity. The Government must publish, in the Gazette officielle du Québec, at least 45 days before an order is passed to that effect, a notice indicating its intention. Any order to authorize the carrying on of additional activities comes into force only 15 days after its publication in the Gazette officielle du Québec.

1987, c. 95, s. 171.