S-17.1 - Act respecting the Société immobilière du Québec

Section 22.2 Disposition versions

2011-07-01

22.2. If a public institution referred to in an Act mentioned in the fourth paragraph of section 20.1 must provide for the financing of major expenditures resulting from the carrying out of an investment project related to the institution’s installations or infrastructures, the Government may, on the recommendation of the Minister of Health and Social Services, if it considers that the circumstances so warrant and on the terms and conditions it determines, authorize the institution, despite any provision to the contrary,

(1)  to transfer any property it owns to the Société to enable the Société to carry out any planned investment project, and to receive, as consideration, the sum necessary for the payment of any debt relating to the transferred property;

(2)  to lease any property transferred to the Société in return for a rent that ensures the repayment of the principal of and interest on any sum transferred to the institution by the Société or paid by the Société for the carrying out of an investment project;

(3)  to resume, if necessary, ownership of the property upon expiry of a lease entered into under subparagraph 2.

The Act respecting duties on transfers of immovables (chapter D-15.1) does not apply to a transfer or resumption of ownership of property referred to in this section.

2011, c. 16, s. 169.