S-6.3 - Act respecting Services Québec

Section 16 Disposition versions

2005-06-22

16. Services Québec may not, without the Government’s authorization,

(1)  contract a loan that causes the total of its current outstanding loans to exceed the amount determined by the Government;

(2)  make a financial commitment in excess of the limits or contrary to the conditions determined by the Government;

(3)  acquire or hold shares in a legal person or an interest in a partnership in excess of the limits or contrary to the conditions determined by the Government;

(4)  dispose of shares in a legal person or an interest in a partnership in excess of the limits or contrary to the conditions determined by the Government;

(5)  acquire or dispose of other assets in excess of the limits or contrary to the conditions determined by the Government; or

(6)  accept a gift or legacy to which a charge or condition is attached.

The Government may determine that a provision of the first paragraph applies to all subsidiaries of Services Québec or to only one of them.

The first paragraph does not apply to transactions between Services Québec and its subsidiaries or between the subsidiaries of Services Québec.

2004, c. 30, s. 16.