117. The letters patent of the Fonds F.C.A.C. pour l’aide et le soutien à la recherche, a non-profit corporation established under the Companies Act (chapter C-38), are cancelled.
The Fonds pour la formation de chercheurs et l’aide à la recherche established by this Act acquires the property and rights of that corporation and assumes its obligations; it also becomes a party to any contract or agreement to which the corporation was a party.