Consolidated Statutes and Regulations Consolidated Statutes Consolidated Regulations Annual Statutes and Regulations Annual Statutes Annual Regulations Additional information Québec Official Publisher What’s new? Information note Policy of the Minister of Justice Laws: Amendments Laws: Provisions not in force Laws: Provisions brought into force Annual Statutes: PDF versions since 1996 Regulations: Amendments Annual Regulations: PDF versions since 1996 Court Decisions

V-1.1 - Securities Act

Section 120
Disposition versions

Full text
120. (Replaced).
1982, c. 48, s. 120; 1984, c. 41, s. 40; 1990, c. 77, s. 22; 2002, c. 45, s. 696; 2004, c. 37, s. 90; 2006, c. 50, s. 41.
120. The purchase, on a stock exchange recognized by the Authority for the purposes of this section, of securities of a particular class in accordance with the conditions fixed by the rules of that stock exchange for making such purchases without being required to make a take-over bid to all the holders, is exempt from the provisions of Chapters III and IV.
1982, c. 48, s. 120; 1984, c. 41, s. 40; 1990, c. 77, s. 22; 2002, c. 45, s. 696; 2004, c. 37, s. 90.
120. The purchase, on a stock exchange recognized by the Agency for the purposes of this section, of securities of a particular class in accordance with the conditions fixed by the rules of that stock exchange for making such purchases without being required to make a take-over bid to all the holders, is exempt from the provisions of Chapters III and IV.
1982, c. 48, s. 120; 1984, c. 41, s. 40; 1990, c. 77, s. 22; 2002, c. 45, s. 696.
120. The purchase, on a stock exchange recognized by the Commission for the purposes of this section, of securities of a particular class in accordance with the conditions fixed by the rules of that stock exchange for making such purchases without being required to make a take-over bid to all the holders, is exempt from the provisions of Chapters III and IV.
1982, c. 48, s. 120; 1984, c. 41, s. 40; 1990, c. 77, s. 22.
120. The purchase, on a stock exchange recognized by the Commission for the purposes of this section, of not more than 5% of the securities of a class over a period of 90 days by a person and his associates is exempt from Chapters III and IV.
If, however, the purchaser intends to avail himself of the exemption more than once over a period of 12 months, he shall report the fact each time, five working days before he acquires securities in excess of 5%, to the Commission, to the issuer and to the stock exchanges on which the security is listed. The report is made in the form prescribed by regulation.
Every stock exchange recognized as a self-regulatory organization may modify the rules regarding exemption under this section. New rules apply only from their approval by the Commission, after a public hearing.
1982, c. 48, s. 120; 1984, c. 41, s. 40.
120. A take-over bid and the related documents mentioned in this title must be sent by mail, by personal delivery or in any other manner approved by the Commission.
A take-over bid and the related documents become effective on the day they are sent.
1982, c. 48, s. 120.
© Gouvernement du Québec