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L-4 - Winding-up Act
Section 18
Disposition versions
18. In the course of the winding-up, but before the sale of the property, the general meeting of shareholders may decide, by a majority representing not less than 2/3 of the capital, to discontinue the winding-up proceedings and continue the operations of the company.
At the same meeting the shareholders shall direct one of their number to apply, in the name of the company, to a judge of the Superior Court, for the approval of the resolution.
Notice of the day when such application will be presented shall be given to the liquidators, to the creditors and to the shareholders, by registered mail. It shall be sent at least six days before the day fixed for the presentation of the application.
The resolution of the shareholders shall have no effect until approved by the judge.
Notice of such resolution and of its approval shall be transmitted to the enterprise registrar, who shall deposit the same in the register.
However, where a cooperative is wound up, the notice of such resolution and of its approval shall be transmitted in duplicate to the Minister of Economy and Innovation. The latter shall send a copy thereof to the enterprise registrar, who shall deposit it in the register.
The approval of such resolution by the judge shall put an end to the powers of the liquidators, but every act done by them while in office shall remain valid, and any action instituted by them may be taken up and carried on by the company in the usual way.
From the date of such deposit, the notice referred to in section 9 shall cease to have effect.
18. In the course of the winding-up, but before the sale of the property, the general meeting of shareholders may decide, by a majority representing not less than 2/3 of the capital, to discontinue the winding-up proceedings and continue the operations of the company.
At the same meeting the shareholders shall direct one of their number to apply, in the name of the company, to a judge of the Superior Court, for the approval of the resolution.
Notice of the day when such application will be presented shall be given to the liquidators, to the creditors and to the shareholders, by registered mail. It shall be sent at least six days before the day fixed for the presentation of the application.
The resolution of the shareholders shall have no effect until approved by the judge.
Notice of such resolution and of its approval shall be transmitted to the enterprise registrar, who shall deposit the same in the register.
However, where a cooperative is wound up, the notice of such resolution and of its approval shall be transmitted in duplicate to the Minister of Economic Development, Innovation and Export Trade. The latter shall send a copy thereof to the enterprise registrar, who shall deposit it in the register.
The approval of such resolution by the judge shall put an end to the powers of the liquidators, but every act done by them while in office shall remain valid, and any action instituted by them may be taken up and carried on by the company in the usual way.
From the date of such deposit, the notice referred to in section 9 shall cease to have effect.
18. In the course of the winding-up, but before the sale of the property, the general meeting of shareholders may decide, by a majority representing not less than 2/3 of the capital, to discontinue the winding-up proceedings and continue the operations of the company.
At the same meeting the shareholders shall direct one of their number to present a petition, in the name of the company, to a judge of the Superior Court, praying for the approval of the resolution.
Notice of the day when such petition will be presented shall be given to the liquidators, to the creditors and to the shareholders, by registered or certified letter deposited in the post-office at least six days before the day fixed for the presentation of the petition.
The resolution of the shareholders shall have no effect until approved by the judge.
Notice of such resolution and of its approval shall be transmitted to the enterprise registrar, who shall deposit the same in the register.
However, where a cooperative is wound up, the notice of such resolution and of its approval shall be transmitted in duplicate to the Minister of Economic Development, Innovation and Export Trade. The latter shall send a copy thereof to the enterprise registrar, who shall deposit it in the register.
The approval of such resolution by the judge shall put an end to the powers of the liquidators, but every act done by them while in office shall remain valid, and any action instituted by them may be taken up and carried on by the company in the usual way.
From the date of such deposit, the notice referred to in section 9 shall cease to have effect.
18. In the course of the winding-up, but before the sale of the property, the general meeting of shareholders may decide, by a majority representing not less than 2/3 of the capital, to discontinue the winding-up proceedings and continue the operations of the company.
At the same meeting the shareholders shall direct one of their number to present a petition, in the name of the company, to a judge of the Superior Court, praying for the approval of the resolution.
Notice of the day when such petition will be presented shall be given to the liquidators, to the creditors and to the shareholders, by registered or certified letter deposited in the post-office at least six days before the day fixed for the presentation of the petition.
The resolution of the shareholders shall have no effect until approved by the judge.
Notice of such resolution and of its approval shall be transmitted to the enterprise registrar, who shall deposit the same in the register.
However, where a cooperative is wound up, the notice of such resolution and of its approval shall be transmitted in duplicate to the Minister of Economic and Regional Development and Research. The latter shall send a copy thereof to the enterprise registrar, who shall deposit it in the register.
The approval of such resolution by the judge shall put an end to the powers of the liquidators, but every act done by them while in office shall remain valid, and any action instituted by them may be taken up and carried on by the company in the usual way.
From the date of such deposit, the notice referred to in section 9 shall cease to have effect.
18. In the course of the winding-up, but before the sale of the property, the general meeting of shareholders may decide, by a majority representing not less than 2/3 of the capital, to discontinue the winding-up proceedings and continue the operations of the company.
At the same meeting the shareholders shall direct one of their number to present a petition, in the name of the company, to a judge of the Superior Court, praying for the approval of the resolution.
Notice of the day when such petition will be presented shall be given to the liquidators, to the creditors and to the shareholders, by registered or certified letter deposited in the post-office at least six days before the day fixed for the presentation of the petition.
The resolution of the shareholders shall have no effect until approved by the judge.
Notice of such resolution and of its approval shall be transmitted to the enterprise registrar, who shall deposit the same in the register.
However, where a cooperative is wound up, the notice of such resolution and of its approval shall be transmitted in duplicate to the Minister of Industry and Trade. The latter shall send a copy thereof to the enterprise registrar, who shall deposit it in the register.
The approval of such resolution by the judge shall put an end to the powers of the liquidators, but every act done by them while in office shall remain valid, and any action instituted by them may be taken up and carried on by the company in the usual way.
From the date of such deposit, the notice referred to in section 9 shall cease to have effect.
18. In the course of the winding-up, but before the sale of the property, the general meeting of shareholders may decide, by a majority representing not less than 2/3 of the capital, to discontinue the winding-up proceedings and continue the operations of the company.
At the same meeting the shareholders shall direct one of their number to present a petition, in the name of the company, to a judge of the Superior Court, praying for the approval of the resolution.
Notice of the day when such petition will be presented shall be given to the liquidators, to the creditors and to the shareholders, by registered or certified letter deposited in the post-office at least six days before the day fixed for the presentation of the petition.
The resolution of the shareholders shall have no effect until approved by the judge.
Notice of such resolution and of its approval shall be transmitted to the Inspector General, who shall deposit the same in the register.
However, where a cooperative is wound up, the notice of such resolution and of its approval shall be transmitted in duplicate to the Minister of Industry and Trade. The latter shall send a copy thereof to the Inspector General, who shall deposit it in the register.
The approval of such resolution by the judge shall put an end to the powers of the liquidators, but every act done by them while in office shall remain valid, and any action instituted by them may be taken up and carried on by the company in the usual way.
From the date of such deposit, the notice referred to in section 9 shall cease to have effect.
18. In the course of the winding-up, but before the sale of the property, the general meeting of shareholders may decide, by a majority representing not less than 2/3 of the capital, to discontinue the winding-up proceedings and continue the operations of the company.
At the same meeting the shareholders shall direct one of their number to present a petition, in the name of the company, to a judge of the Superior Court, praying for the approval of the resolution.
Notice of the day when such petition will be presented shall be given to the liquidators, to the creditors and to the shareholders, by registered or certified letter deposited in the post-office at least six days before the day fixed for the presentation of the petition.
The resolution of the shareholders shall have no effect until approved by the judge.
Notice of such resolution and of its approval shall be transmitted to the Inspector General, who shall deposit the same in the register.
However, where a cooperative is wound up, the notice of such resolution and of its approval shall be transmitted in duplicate to the Minister of Industry, Trade, Science and Technology. The latter shall send a copy thereof to the Inspector General, who shall deposit it in the register.
The approval of such resolution by the judge shall put an end to the powers of the liquidators, but every act done by them while in office shall remain valid, and any action instituted by them may be taken up and carried on by the company in the usual way.
From the date of such deposit, the notice referred to in section 9 shall cease to have effect.
18. In the course of the winding-up, but before the sale of the property, the general meeting of shareholders may decide, by a majority representing not less than 2/3 of the capital, to discontinue the winding-up proceedings and continue the operations of the company.
At the same meeting the shareholders shall direct one of their number to present a petition, in the name of the company, to a judge of the Superior Court, praying for the approval of the resolution.
Notice of the day when such petition will be presented shall be given to the liquidators, to the creditors and to the shareholders, by registered or certified letter deposited in the post-office at least six days before the day fixed for the presentation of the petition.
The resolution of the shareholders shall have no effect until approved by the judge.
Notice of such resolution and of its approval shall be transmitted to the Inspector General, who shall deposit the same in the register.
The approval of such resolution by the judge shall put an end to the powers of the liquidators, but every act done by them while in office shall remain valid, and any action instituted by them may be taken up and carried on by the company in the usual way.
From the date of such deposit, the notice referred to in section 9 shall cease to have effect.
18. In the course of the winding-up, but before the sale of the property, the general meeting of shareholders may decide, by a majority representing not less than two-thirds of the capital, to discontinue the winding-up proceedings and continue the operations of the company.
At the same meeting the shareholders shall direct one of their number to present a petition, in the name of the company, to a judge of the Superior Court, praying for the approval of the resolution.
Notice of the day when such petition will be presented shall be given to the liquidators, to the creditors and to the shareholders, by registered or certified letter deposited in the post-office at least six days before the day fixed for the presentation of the petition.
The resolution of the shareholders shall have no effect until approved by the judge.
Notice of such resolution and of its approval shall be registered in the prothonotary’s office and in the registry office where the notice of the winding-up and dissolution of the company has been registered, and the prothonotary and the registrar must mention the annulment of the latter notice on the margin of its registration.
This registration in the registry office is effected by deposit.
The same notice shall be forwarded to the Inspector General of Financial Institutions, who shall have the same published in the Gazette officielle du Québec.
The approval of such resolution by the judge shall put an end to the powers of the liquidators, but every act done by them while in office shall remain valid, and any action instituted by them may be taken up and carried on by the company in the usual way.
18. In the course of the winding-up, but before the sale of the property, the general meeting of shareholders may decide, by a majority representing not less than two-thirds of the capital, to discontinue the winding-up proceedings and continue the operations of the company.
At the same meeting the shareholders shall direct one of their number to present a petition, in the name of the company, to a judge of the Superior Court, praying for the approval of the resolution.
Notice of the day when such petition will be presented shall be given to the liquidators, to the creditors and to the shareholders, by registered or certified letter deposited in the post-office at least six days before the day fixed for the presentation of the petition.
The resolution of the shareholders shall have no effect until approved by the judge.
Notice of such resolution and of its approval shall be registered in the prothonotary’s office and in the registry office where the notice of the winding-up and dissolution of the company has been registered, and the prothonotary and the registrar must mention the annulment of the latter notice on the margin of its registration.
This registration in the registry office is effected by deposit.
The same notice shall be forwarded to the Minister of Financial Institutions and Cooperatives, who shall have the same published in the Gazette officielle du Québec.
The approval of such resolution by the judge shall put an end to the powers of the liquidators, but every act done by them while in office shall remain valid, and any action instituted by them may be taken up and carried on by the company in the usual way.
18. In the course of the winding-up, but before the sale of the property, the general meeting of shareholders may decide, by a majority representing not less than two-thirds of the capital, to discontinue the winding-up proceedings and continue the operations of the company.
At the same meeting the shareholders shall direct one of their number to present a petition, in the name of the company, to a judge of the Superior Court, praying for the approval of the resolution.
Notice of the day when such petition will be presented shall be given to the liquidators, to the creditors and to the shareholders, by registered or certified letter deposited in the post-office at least six days before the day fixed for the presentation of the petition.
The resolution of the shareholders shall have no effect until approved by the judge.
Notice of such resolution and of its approval shall be registered in the prothonotary’s office and in the registry office where the notice of the winding-up and dissolution of the company has been registered, and the prothonotary and the registrar must mention the annulment of the latter notice on the margin of its registration.
This registration in the registry office is effected by deposit.
The same notice shall be forwarded to the Minister of Consumer Affairs, Cooperatives and Financial Institutions, who shall have the same published in the Gazette officielle du Québec.
The approval of such resolution by the judge shall put an end to the powers of the liquidators, but every act done by them while in office shall remain valid, and any action instituted by them may be taken up and carried on by the company in the usual way.
