121. No establishment contemplated in sections 10 to 13 may be amalgamated or converted under section 119 or 120 except with its consent and on the conditions agreed between it and the Minister.
However, an establishment contemplated in paragraph a of section 10 or a public establishment whose immoveable assets have been acquired out of funds derived for the most part from Government subsidies may be amalgamated in accordance with section 119 where the Minister considers, after consulting the regional council concerned, that the public interest warrants it. In such a case, the Minister shall publish in the Gazette officielle du Québec a notice of his intention to propose to the Government, forty-five days after publication of such notice, that it order the amalgamation of such establishment and the issue of letters patent to that effect by the Inspector General of Financial Institutions.
After publication of the notice, the Minister must give the establishments concerned the opportunity to make representations.
1971, c. 48, s. 84; 1977, c. 48, s. 31; 1981, c. 22, s. 83; 1982, c. 52, s. 233.