S-16.011 - Act respecting the Société du Plan Nord

Section 28 Disposition versions

2015-04-01

28. The Company may not, without the authorization of the Government,

(1)  contract a loan that causes the total of its current outstanding loans to exceed the amount determined by the Government;

(2)  make a financial commitment in excess of the limits or in contravention of the terms determined by the Government;

(3)  acquire, hold or dispose of assets in excess of the limits or in contravention of the terms determined by the Government; or

(4)  accept a gift or legacy to which a charge or condition is attached.

The amounts, limits and terms determined under this section may also apply to the group formed by the Company and its subsidiaries or to one or more members of that group.

This section does not apply to the contracts or other commitments entered into by the Company in carrying out a mandate given to it by the Government.

2014, c. 16, s. 28.