Corporation de chauffage urbain de Montréal (CCUM) Incorporation and Sale Authorization Order

SOR/90-151

FINANCIAL ADMINISTRATION ACT

Registration 1990-02-22

Order Authorizing the Canadian National Railway Company to Procure the Incorporation of Corporation de Chauffage Urbain de Montréal (CCUM) and the Subsequent Sale of 7O% of the Shares Thereof to Compagnie Internationale Financière et Industrielle du Québec CIFIQ Inc.

P.C. 1990-324  1990-02-22

Whereas the Governor in Council, pursuant to subsection 91(6) of the Financial Administration Act, is satisfied that the Canadian National Railway Company is empowered, pursuant to paragraphs 91(1)(a) and (d) of that Act, to undertake the transactions described in the annexed Order;

Therefore, His Excellency the Governor General in Council, on the recommendation of the Minister of Transport and the Treasury Board, pursuant to paragraphs 91(1)(a) and (d) of the Financial Administration Act, is pleased hereby to revoke Order in Council P.C. 1988-2254 of September 29, 1988Footnote * and to make the annexed Order authorizing the Canadian National Railway Company to procure the incorporation of Corporation de chauffage urbain de Montréal (CCUM) and the subsequent sale of 70% of the shares thereof to Compagnie internationale financière et industrielle du Québec CIFIQ Inc.

SHORT TITLE

 This Order may be cited as the Corporation de chauffage urbain de Montréal (CCUM) Incorporation and Sale Authorization Order.

AUTHORIZATION

 The Canadian National Railway Company is hereby authorized

  • (a) to procure the incorporation, under the laws of the Province of Quebec, of the Corporation de chauffage urbain de Montréal (CCUM), all the shares of which, on incorporation, will be held by the Canadian National Railway Company, and

  • (b) to subsequently sell 70% of the issued and outstanding shares of the share capital of Corporation de chauffage urbain de Montréal (CCUM) to Compagnie internationale financière et industrielle du Québec CIFIQ Inc.

on or before December 31, 1990.