113. [Repealed, 1990, c. 7, s. 28]
Marginal note:Assets of company subject to executions, etc.
114. (1) It is hereby declared that nothing in this Act restricts or prohibits any of the following transactions:
(a) the sale under execution of any property of a company; or
(b) the creation of any lien, mortgage, hypothec, charge or other security on the property of the company, or of any prior claim or right of retention within the meaning of the Civil Code of Québec or any other statute of the Province of Quebec with respect to property of the company;
(c) the sale, elsewhere than in the Province of Quebec, under an order of a court of any property of the company to enforce or realize on any lien, mortgage, charge or other security on the property of the company;
(d) the sale, in the Province of Quebec, under an order of a court or by judicial authority, of any property of the company to enforce or realize on any hypothec, charge or other security on the property of the company; and
(e) the exercise of remedies for the enforcement and realization of any prior claim referred to in paragraph (b) or the exercise of any right of retention referred to in that paragraph.
Marginal note:Application of provincial law
(2) It is hereby declared that a transaction mentioned in subsection (1) in respect of any property of a company is subject to the same laws to which it would be subject if the work and undertaking of the company were a local work or undertaking in the province in which that property is situated.
- R.S., 1985, c. N-7, s. 114;
- 2001, c. 4, s. 106.
Construing Special Acts
Marginal note:Construing Special Acts
115. Except as otherwise provided in this Part,
(a) this Act shall be construed as incorporate with a Special Act; and
(b) where the provisions of this Part and a Special Act relate to the same subject-matter, the provisions of the Special Act shall, in so far as is necessary to give effect to the Special Act, be taken to override the provisions of this Part.
- R.S., c. N-6, s. 80;
- R.S., c. 27(1st Supp.), s. 25.
PART VIEXPORTS AND IMPORTS
Division IOil and Gas
116. Except as otherwise authorized by or under the regulations, no person shall export or import any oil or gas except under and in accordance with a licence issued under this Part.
- R.S., 1985, c. N-7, s. 116;
- 1990, c. 7, s. 29.
Issuance of Licences
Marginal note:Issuance of licences
117. (1) Subject to the regulations, the Board may, on such terms and conditions as it may impose, issue licences for the exportation or importation of oil or gas.
(2) Every licence is subject to the condition that the provisions of this Act and the regulations in force at the date of issue of the licence and as subsequently enacted, made or amended, as well as every order made under the authority of this Act, will be complied with.
- R.S., 1985, c. N-7, s. 117;
- 1990, c. 7, s. 31.
- Date modified: