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S-29.01 - Act respecting trust companies and savings companies

Section 347
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Full text
347. (Repealed).
1987, c. 95, s. 347; 1999, c. 40, s. 304; 2008, c. 7, s. 130.
347. After receiving the report from the Minister, the Government may take one or more of the following measures:
(1)  terminate the provisional administration or the control and possession of the assets;
(2)  declare the directors of the company forfeited of office and order the holding of an special meeting of shareholders to elect new directors;
(3)  order, on the conditions it determines, the winding-up of the company and appoint a liquidator.
Every member of the board of directors forfeited of office pursuant to this section is disqualified for office as a director for a period of five years.
1987, c. 95, s. 347; 1999, c. 40, s. 304.
347. After receiving the report from the Minister, the Government may take one or more of the following measures:
(1)  terminate the provisional administration or the control and possession of the assets;
(2)  declare the directors of the company forfeited of office and order the holding of an extraordinary meeting of shareholders to elect new directors;
(3)  order, on the conditions it determines, the winding-up of the company and appoint a liquidator.
Every member of the board of directors forfeited of office pursuant to this section is disqualified for office as a director for a period of five years.
1987, c. 95, s. 347.
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