The Parti Quebecois (PQ) accuses the Financial Markets Authority (AMF) to have abetted the violation of language rights shareholders of RONA.
PQ spokesman on finance and revenue, Nicolas Marceau, lamented Friday that the documents for the sale of the hardware store in Quebec giant Lowe's have not all been translated into French.
The member for Rousseau, RONA Francophone shareholders have not had access to all the information they needed to make an informed decision. It difficult to understand how the AMF was able to tolerate such a practice.
"I fell off my chair. I find it unacceptable and I do not understand. The Securities Act is very clear. It requires that the documentation provided to shareholders either in French, "Mr. Marceau said in an interview.
In a letter published last week on Droit-Inc, President of the Canadian Association of Legal Translators, Louis Fortier, revealed that the French version of the circular and proxy statement, given to RONA's shareholders included 69 pages in English on a total of 203.
"It is astonishing to note that officials from the Quebec government condone with such reckless maneuvers that undermine Quebec's identity and threaten linguistic peace," wrote Mr. Fortier.
Nicolas Marceau abounded in the same direction. "The French language in Quebec must be the working language should be the language of business, has he said. Francophone shareholders of Quebec are not second class citizens. They are entitled to have the information in their language. "
The former PQ Minister of Finance asked the AMF to "recover" to end this "laxity" and that "worrying slippage".
At the time of this writing, the AMF had not reminded QMI Agency.