P-16 - Act respecting the special powers of legal persons

Section 31 Disposition versions

1994-01-01

31. (Repealed).

R. S. 1964, c. 275, s. 26; 1992, c. 57, s. 644.

1977-12-31

31. Notwithstanding the provisions of article 1571 of the Civil Code, no signification or acceptance shall be necessary for any purpose in respect of debts, rights or claims in favour of the company which may be hypothecated, mortgaged, pledged, ceded or transferred to the trustee by the trust deed, provided that the trust deed be registered as to moveables in the manner provided by section 29 of this act, and that two notices of the fact that the security created by the trust deed has become enforceable be published in the manner hereinafter set forth; but, in the absence of signification and acceptance in cases in which signification or acceptance is required by article 1571 of the Civil Code, the trustees shall not enjoy the benefit of this section 31 in respect of any debts, rights or claims paid or otherwise discharged before the publication of such notice. The said notices shall be given by two publications in French in a newspaper published in that language in the judicial district in which the company has its chief place of business in Québec, but if there be no such newspaper in that district, then in the nearest judicial district in which there is such a newspaper, and by two publications in English in a newspaper published in that language in the judicial district in which the company has its chief place of business in Québec, but if there be no such newspaper in that district, then in the nearest judicial district in which there is such a newspaper.

R. S. 1964, c. 275, s. 26.