47. The Government may revoke the charter of a constituent university not contemplated by section 49, on the petition of its board of directors, after obtaining the advice of the Board of Governors and on the recommendation of the Minister.
Such revocation shall take effect on the sixtieth day after publication of a notice to that effect in the Gazette officielle du Québec.
The constituent university shall thereupon be dissolved and, after payment of its debts and the carrying out of its obligations, its property shall vest in the Université du Québec.