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V-1.1 - Securities Act

Section 41
Disposition versions

Full text
41. No prospectus is required for the distribution of the following securities:
(1)  a debt security guaranteed by the Gouvernement du Québec, the Government of Canada or the government of a Canadian province or territory;
(2)  a debt security issued or guaranteed by
(a)  a municipality, a metropolitan community, a school service centre, a school board or the Comité de gestion de la taxe scolaire de l’île de Montréal;
(b)  a transit authority established under an Act of Québec;
(c)  a public institution or regional council within the meaning of the Act respecting health services and social services for Cree Native persons (chapter S-5) or a public institution or a health and social services agency referred to in the Act respecting health services and social services (chapter S-4.2);
(d)  a Québec university;
(e)  a general and vocational college;
(f)  a fabrique constituted under the Act respecting fabriques (chapter F-1);
(g)  an intermunicipal management board;
(3)  (paragraph repealed).
1982, c. 48, s. 41; 1984, c. 41, s. 13; 1988, c. 84, s. 700; 1990, c. 85, s. 120; 1992, c. 21, s. 357, s. 375; 1993, c. 67, s. 122; 1994, c. 23, s. 23; 1996, c. 2, s. 988; 1999, c. 40, s. 327; 1999, c. 34, s. 60; 2000, c. 56, s. 218; 2002, c. 75, s. 33; 2004, c. 37, s. 5; 2005, c. 32, s. 300, s. 308; 2011, c. 16, s. 194; 2013, c. 18, s. 102; 2020, c. 1, s. 309.
41. No prospectus is required for the distribution of the following securities:
(1)  a debt security guaranteed by the Gouvernement du Québec, the Government of Canada or the government of a Canadian province or territory;
(2)  a debt security issued or guaranteed by
(a)  a municipality, a metropolitan community, a school board or the Comité de gestion de la taxe scolaire de l’île de Montréal;
(b)  a transit authority established under an Act of Québec;
(c)  a public institution or regional council within the meaning of the Act respecting health services and social services for Cree Native persons (chapter S-5) or a public institution or a health and social services agency referred to in the Act respecting health services and social services (chapter S-4.2);
(d)  a Québec university;
(e)  a general and vocational college;
(f)  a fabrique constituted under the Act respecting fabriques (chapter F-1);
(g)  an intermunicipal management board;
(3)  (paragraph repealed).
1982, c. 48, s. 41; 1984, c. 41, s. 13; 1988, c. 84, s. 700; 1990, c. 85, s. 120; 1992, c. 21, s. 357, s. 375; 1993, c. 67, s. 122; 1994, c. 23, s. 23; 1996, c. 2, s. 988; 1999, c. 40, s. 327; 1999, c. 34, s. 60; 2000, c. 56, s. 218; 2002, c. 75, s. 33; 2004, c. 37, s. 5; 2005, c. 32, s. 300, s. 308; 2011, c. 16, s. 194; 2013, c. 18, s. 102.
41. No prospectus is required for the distribution of the following securities:
(1)  a debt security guaranteed by the Gouvernement du Québec, the Government of Canada or the government of a Canadian province or territory;
(2)  a debt security issued or guaranteed by
(a)  a municipality, a metropolitan community, a school board or the Comité de gestion de la taxe scolaire de l’île de Montréal;
(b)  a transit authority established under an Act of Québec;
(c)  a public institution or regional council within the meaning of the Act respecting health services and social services for Cree Native persons (chapter S-5) or a public institution or a health and social services agency referred to in the Act respecting health services and social services (chapter S-4.2);
(d)  a Québec university;
(e)  a general and vocational college;
(f)  a fabrique constituted under the Act respecting fabriques (chapter F-1);
(g)  an intermunicipal management board;
(3)  a promissory note payable in one year or less and evidencing, if distributed to a natural person, a debt for a sum of $50,000 or more.
1982, c. 48, s. 41; 1984, c. 41, s. 13; 1988, c. 84, s. 700; 1990, c. 85, s. 120; 1992, c. 21, s. 357, s. 375; 1993, c. 67, s. 122; 1994, c. 23, s. 23; 1996, c. 2, s. 988; 1999, c. 40, s. 327; 1999, c. 34, a. 60; 2000, c. 56, s. 218; 2002, c. 75, s. 33; 2004, c. 37, s. 5; 2005, c. 32, s. 300, s. 308; 2011, c. 16, s. 194.
41. No prospectus is required for the distribution of the following securities:
(1)  a debt security guaranteed by the Gouvernement du Québec, the Government of Canada or the government of a Canadian province or territory;
(2)  a debt security issued or guaranteed by
(a)  a municipality, a metropolitan community, a school board or the Comité de gestion de la taxe scolaire de l’île de Montréal;
(b)  a transit authority established under an Act of Québec;
(c)  a public institution or regional council within the meaning of the Act respecting health services and social services for Cree Native persons (chapter S‐5), a public institution or a health and social services agency referred to in the Act respecting health services and social services (chapter S‐4.2), or the Corporation d’hébergement du Québec;
(d)  a Québec university;
(e)  a general and vocational college;
(f)  a fabrique constituted under the Act respecting fabriques (chapter F‐1);
(g)  an intermunicipal management board;
(3)  a promissory note payable in one year or less and evidencing, if distributed to a natural person, a debt for a sum of $50,000 or more.
1982, c. 48, s. 41; 1984, c. 41, s. 13; 1988, c. 84, s. 700; 1990, c. 85, s. 120; 1992, c. 21, s. 357, s. 375; 1993, c. 67, s. 122; 1994, c. 23, s. 23; 1996, c. 2, s. 988; 1999, c. 40, s. 327; 1999, c. 34, a. 60; 2000, c. 56, s. 218; 2002, c. 75, s. 33; 2004, c. 37, s. 5; 2005, c. 32, s. 300, s. 308.
41. No prospectus is required for the distribution of the following securities:
(1)  a debt security guaranteed by the Gouvernement du Québec, the Government of Canada or the government of a Canadian province or territory;
(2)  a debt security issued or guaranteed by
(a)  a municipality, a metropolitan community, a school board or the Comité de gestion de la taxe scolaire de l’île de Montréal;
(b)  a transit authority established under an Act of Québec;
(c)  a public institution or regional council within the meaning of the Act respecting health services and social services for Cree Native persons (chapter S‐5), a public institution or an agency within the meaning of the Act respecting local health and social services network development agencies (chapter A‐8.1), or the Corporation d’hébergement du Québec;
(d)  a Québec university;
(e)  a general and vocational college;
(f)  a fabrique constituted under the Act respecting fabriques (chapter F‐1);
(g)  an intermunicipal management board;
(3)  a promissory note payable in one year or less and evidencing, if distributed to a natural person, a debt for a sum of $50 000 or more.
1982, c. 48, s. 41; 1984, c. 41, s. 13; 1988, c. 84, s. 700; 1990, c. 85, s. 120; 1992, c. 21, s. 357, s. 375; 1993, c. 67, s. 122; 1994, c. 23, s. 23; 1996, c. 2, s. 988; 1999, c. 40, s. 327; 1999, c. 34, a. 60; 2000, c. 56, s. 218; 2002, c. 75, s. 33; 2004, c. 37, s. 5.
41. No prospectus is required for the distribution of the following securities:
(1)  a debt security guaranteed by the Gouvernement du Québec, the Government of Canada or the government of a Canadian province;
(2)  a debt security issued or guaranteed by
(a)  a municipality, a metropolitan community, a school board or the Comité de gestion de la taxe scolaire de l’île de Montréal;
(b)  a transit authority established under an Act of Québec;
(c)  a public institution or regional council within the meaning of the Act respecting health services and social services for Cree Native persons (chapter S‐5), a public institution or a regional board within the meaning of the Act respecting health services and social services (chapter S‐4.2), or the Corporation d’hébergement du Québec;
(d)  a Québec university;
(e)  a general and vocational college;
(f)  a fabrique constituted under the Act respecting fabriques (chapter F‐1);
(g)  an intermunicipal management board;
(3)  a promissory note payable in one year or less and evidencing, if distributed to a natural person, a debt for a sum of $50 000 or more.
1982, c. 48, s. 41; 1984, c. 41, s. 13; 1988, c. 84, s. 700; 1990, c. 85, s. 120; 1992, c. 21, s. 357, s. 375; 1993, c. 67, s. 122; 1994, c. 23, s. 23; 1996, c. 2, s. 988; 1999, c. 40, s. 327; 1999, c. 34, a. 60; 2000, c. 56, s. 218; 2002, c. 75, s. 33.
41. No prospectus is required for the distribution of the following securities:
(1)  a debt security guaranteed by the Gouvernement du Québec, the Government of Canada or the government of a Canadian province;
(2)  a debt security issued or guaranteed by
(a)  a municipality, a metropolitan community, a school board or the Conseil scolaire de l’île de Montréal;
(b)  a transit authority established under an Act of Québec;
(c)  a public institution or regional council within the meaning of the Act respecting health services and social services for Cree Native persons (chapter S-5), a public institution or a regional board within the meaning of the Act respecting health services and social services (chapter S-4.2), or the Corporation d’hébergement du Québec;
(d)  a Québec university;
(e)  a general and vocational college;
(f)  a fabrique constituted under the Act respecting fabriques (chapter F-1);
(g)  an intermunicipal management board;
(3)  a promissory note payable in one year or less and evidencing, if distributed to a natural person, a debt for a sum of $50 000 or more.
1982, c. 48, s. 41; 1984, c. 41, s. 13; 1988, c. 84, s. 700; 1990, c. 85, s. 120; 1992, c. 21, s. 357, s. 375; 1993, c. 67, s. 122; 1994, c. 23, s. 23; 1996, c. 2, s. 988; 1999, c. 40, s. 327; 1999, c. 34, a. 60; 2000, c. 56, s. 218.
41. No prospectus is required for the distribution of the following securities:
(1)  a debt security guaranteed by the Gouvernement du Québec, the Government of Canada or the government of a Canadian province;
(2)  a debt security issued or guaranteed by
(a)  a municipality, an urban community, a school board or the Conseil scolaire de l’île de Montréal;
(b)  a transit authority established under an Act of Québec;
(c)  a public institution or regional council within the meaning of the Act respecting health services and social services for Cree Native persons (chapter S-5), a public institution or a regional board within the meaning of the Act respecting health services and social services (chapter S-4.2), or the Corporation d’hébergement du Québec;
(d)  a Québec university;
(e)  a general and vocational college;
(f)  a fabrique constituted under the Act respecting fabriques (chapter F-1);
(g)  an intermunicipal management board;
(3)  a promissory note payable in one year or less and evidencing, if distributed to a natural person, a debt for a sum of $50 000 or more.
1982, c. 48, s. 41; 1984, c. 41, s. 13; 1988, c. 84, s. 700; 1990, c. 85, s. 120; 1992, c. 21, s. 357, s. 375; 1993, c. 67, s. 122; 1994, c. 23, s. 23; 1996, c. 2, s. 988; 1999, c. 40, s. 327; 1999, c. 34, a. 60.
41. No prospectus is required for the distribution of the following securities:
(1)  a debt security guaranteed by the Gouvernement du Québec, the Government of Canada or the government of a Canadian province;
(2)  a debt security issued or guaranteed by
(a)  a municipality, an urban community, a school board or the Conseil scolaire de l’île de Montréal;
(b)  a transit authority established under an Act of Québec;
(c)  a public institution or regional council within the meaning of the Act respecting health services and social services for Cree Native persons (chapter S-5), a public institution or a regional board within the meaning of the Act respecting health services and social services (chapter S-4.2), or the Corporation d’hébergement du Québec, constituted under Part III of the Companies Act (chapter C-38);
(d)  a Québec university;
(e)  a general and vocational college;
(f)  a fabrique constituted under the Act respecting fabriques (chapter F-1);
(g)  an intermunicipal management board;
(3)  a promissory note payable in one year or less and evidencing, if distributed to a natural person, a debt for a sum of $50 000 or more.
1982, c. 48, s. 41; 1984, c. 41, s. 13; 1988, c. 84, s. 700; 1990, c. 85, s. 120; 1992, c. 21, s. 357, s. 375; 1993, c. 67, s. 122; 1994, c. 23, s. 23; 1996, c. 2, s. 988; 1999, c. 40, s. 327.
41. No prospectus is required for the distribution of the following securities:
(1)  a debt security guaranteed by the Gouvernement du Québec, the Government of Canada or the government of a Canadian province;
(2)  a debt security issued or guaranteed by
(a)  a municipality, an urban community, a school board or the Conseil scolaire de l’île de Montréal;
(b)  a transit authority established under an Act of Québec;
(c)  a public institution or regional council within the meaning of the Act respecting health services and social services for Cree Native persons (chapter S-5), a public institution or a regional board within the meaning of the Act respecting health services and social services (chapter S-4.2), or the Corporation d’hébergement du Québec, incorporated under Part III of the Companies Act (chapter C-38);
(d)  a Québec university;
(e)  a general and vocational college;
(f)  a fabrique constituted under the Act respecting fabriques (chapter F-1);
(g)  an intermunicipal management board;
(3)  a promissory note payable in one year or less and evidencing, if distributed to a natural person, a debt for a sum of $50 000 or more.
1982, c. 48, s. 41; 1984, c. 41, s. 13; 1988, c. 84, s. 700; 1990, c. 85, s. 120; 1992, c. 21, s. 357, s. 375; 1993, c. 67, s. 122; 1994, c. 23, s. 23; 1996, c. 2, s. 988.
41. No prospectus is required for the distribution of the following securities:
(1)  a debt security guaranteed by the Gouvernement du Québec, the Government of Canada or the government of a Canadian province;
(2)  a debt security issued or guaranteed by
(a)  a municipal corporation, an urban community, a school board or the Conseil scolaire de l’île de Montréal;
(b)  a transit authority established under an Act of Québec;
(c)  a public institution or regional council within the meaning of the Act respecting health services and social services for Cree Native persons (chapter S-5), a public institution or a regional board within the meaning of the Act respecting health services and social services (chapter S-4.2), or the Corporation d’hébergement du Québec, incorporated under Part III of the Companies Act (chapter C-38);
(d)  a Québec university;
(e)  a general and vocational college;
(f)  a fabrique constituted under the Act respecting fabriques (chapter F-1);
(g)  an intermunicipal management board;
(3)  a promissory note payable in one year or less and evidencing, if distributed to a natural person, a debt for a sum of $50 000 or more.
1982, c. 48, s. 41; 1984, c. 41, s. 13; 1988, c. 84, s. 700; 1990, c. 85, s. 120; 1992, c. 21, s. 357, s. 375; 1993, c. 67, s. 122; 1994, c. 23, s. 23.
41. No prospectus is required for the distribution of the following securities:
(1)  a debt security guaranteed by the Gouvernement du Québec, the Government of Canada or the government of a Canadian province;
(2)  a debt security issued or guaranteed by
(a)  a municipal corporation, an urban community, a school board or the Conseil scolaire de l’île de Montréal;
(b)  a transit authority established under an Act of Québec;
(c)  a public institution or regional council within the meaning of the Act respecting health services and social services for Cree and Inuit Native persons (chapter S-5), a public institution or a regional board within the meaning of the Act respecting health services and social services (chapter S-4.2), or the Corporation d’hébergement du Québec, incorporated under Part III of the Companies Act (chapter C-38);
(d)  a Québec university;
(e)  a general and vocational college;
(f)  a fabrique constituted under the Act respecting fabriques (chapter F-1);
(g)  an intermunicipal management board;
(3)  a promissory note payable in one year or less and evidencing, if distributed to a natural person, a debt for a sum of $50 000 or more.
1982, c. 48, s. 41; 1984, c. 41, s. 13; 1988, c. 84, s. 700; 1990, c. 85, s. 120; 1992, c. 21, s. 357, s. 375; 1993, c. 67, s. 122.
41. No prospectus is required for the distribution of the following securities:
(1)  a debt security guaranteed by the Gouvernement du Québec, the Government of Canada or the government of a Canadian province;
(2)  a debt security issued or guaranteed by
(a)  a municipal corporation, an urban community, a school board or the Conseil scolaire de l’île de Montréal;
(b)  a transit commission or corporation established under an Act of Québec;
(c)  a public institution or regional council within the meaning of the Act respecting health services and social services for Cree and Inuit Native persons (chapter S-5), a public institution or a regional board within the meaning of the Act respecting health services and social services (chapter S-4.2), or the Corporation d’hébergement du Québec, incorporated under Part III of the Companies Act (chapter C-38);
(d)  a Québec university;
(e)  a general and vocational college;
(f)  a fabrique constituted under the Act respecting fabriques (chapter F-1);
(g)  an intermunicipal management board;
(3)  a promissory note payable in one year or less and evidencing, if distributed to a natural person, a debt for a sum of $50 000 or more.
1982, c. 48, s. 41; 1984, c. 41, s. 13; 1988, c. 84, s. 700; 1990, c. 85, s. 120; 1992, c. 21, s. 357, s. 375.
41. No prospectus is required for the distribution of the following securities:
(1)  a debt security guaranteed by the Gouvernement du Québec, the Government of Canada or the government of a Canadian province;
(2)  a debt security issued or guaranteed by
(a)  a municipal corporation, an urban community, a school board or the Conseil scolaire de l’île de Montréal;
(b)  a transit commission or corporation established under an Act of Québec;
(c)  a public establishment or regional council within the meaning of the Act respecting health services and social services (chapter S-5), or the Corporation d’hébergement du Québec, incorporated under Part III of the Companies Act (chapter C-38);
(d)  a Québec university;
(e)  a general and vocational college;
(f)  a fabrique constituted under the Act respecting fabriques (chapter F-1);
(g)  an intermunicipal management board;
(3)  a promissory note payable in one year or less and evidencing, if distributed to a natural person, a debt for a sum of $50 000 or more.
1982, c. 48, s. 41; 1984, c. 41, s. 13; 1988, c. 84, s. 700; 1990, c. 85, s. 120.
41. No prospectus is required for the distribution of the following securities:
(1)  a debt security guaranteed by the Gouvernement du Québec, the Government of Canada or the government of a Canadian province;
(2)  a debt security issued or guaranteed by
(a)  a municipal corporation, an urban community or regional community, a school board or the Conseil scolaire de l’île de Montréal;
(b)  a transit commission established under an Act of Québec;
(c)  a public establishment or regional council within the meaning of the Act respecting health services and social services (chapter S-5), or the Corporation d’hébergement du Québec, incorporated under Part III of the Companies Act (chapter C-38);
(d)  a Québec university;
(e)  a general and vocational college;
(f)  a fabrique constituted under the Act respecting fabriques (chapter F-1);
(g)  an intermunicipal management board;
(3)  a promissory note payable in one year or less and evidencing, if distributed to a natural person, a debt for a sum of $50 000 or more.
1982, c. 48, s. 41; 1984, c. 41, s. 13; 1988, c. 84, s. 700.
41. No prospectus is required for the distribution of the following securities:
(1)  a debt security guaranteed by the Gouvernement du Québec, the Government of Canada or the government of a Canadian province;
(2)  a debt security issued or guaranteed by
(a)  a municipal corporation, an urban community or regional community, a school corporation or the Conseil scolaire de l’île de Montréal;
(b)  a transit commission established under an Act of Québec;
(c)  a public establishment or regional council within the meaning of the Act respecting health services and social services (chapter S-5), or the Corporation d’hébergement du Québec, incorporated under Part III of the Companies Act (chapter C-38);
(d)  a Québec university;
(e)  a general and vocational college;
(f)  a fabrique constituted under the Act respecting fabriques (chapter F-1);
(g)  an intermunicipal management board;
(3)  a promissory note payable in one year or less and evidencing, if distributed to a natural person, a debt for a sum of $50 000 or more.
1982, c. 48, s. 41; 1984, c. 41, s. 13.
41. No prospectus is required for the distribution of the following securities:
(1)  a debt security guaranteed by the Gouvernement du Québec, the Government of Canada or the government of a Canadian province;
(2)  a debt security issued or guaranteed by
(a)  a municipal corporation, an urban community or regional community, a school corporation or the Conseil scolaire de l’île de Montréal;
(b)  a transit commission established under an Act of Québec;
(c)  a hospital centre within the meaning of the Act respecting health services and social services (chapter S-5);
(d)  a Québec university;
(e)  a general and vocational college;
(f)  a fabrique constituted under the Act respecting fabriques (chapter F-1);
(g)  an intermunicipal management board;
(3)  a promissory note payable in one year or less and evidencing, if distributed to a natural person, a debt for a sum of $50 000 or more.
1982, c. 48, s. 41.
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