Pierre Karl Pladeau gives trustees some power over Quebecor shares

Parti Qubcois leader Pierre Karl Pladeau is handing over control of his shares in Quebecor, but not the power to sell them.

Pladeau announced Thursday on his Facebook page that he is giving three people administrative power over his shares as long as he is leader of the party.

The Liberal government and Coalition Avenir Qubec have repeatedly called on Pladeau to go one step further and place his shares in a blind trust, which would give a trustee complete power to avoid potential conflicts of interest.

Under the new arrangement, Pladeau remains the owner of his shares.

• Pierre Karl Pladeau unfairly targeted in blind-trust opinion, PQ says

• Pierre Karl Pladeau can be MNA and media mogul, ethics commissioner rules

• Pierre Karl Pladeau wants to hang on to Quebecor holdings despite political run

Previously, Pladeau said he would instruct trustees not to sell his Quebecor shares because he wants to leave them to his children.

A PQ official says the new management agreement conforms with his past statements on the subject. It is unclear what else is in the agreement and what other instructions the administrators must follow.

Pladeau indicated on his Facebook page that the move is conditional on approval by the CRTC and Industry Canada.

The three administrators will include Claude Bland, the former president and director general of Mouvement Desjardins, lawyer James. A Woods and businessman Andr P. Brosseau.

The Liberal government says the move does not go far enough.

"Mr. Pladeau's initiative confirms our fears. Instead of a real blind trust and complete protection from risks of interference, Mr. Pladeau has created a hoax," a spokesperson for the Liberal government wrote in a statement.

Coalition Avenir Qubec MNA Franois Bonnardel calls the move a "smokescreen."

"Mr. Pladeau hopes thatwith this [agreement] he will say to all Quebecers, 'I hope to be the next premier but I'm still the shareholder for all of Quebecor.' It cannot work," Bonnardelsaid.

Here is Pladeau's Facebook post making the announcement: