5. The Fund shall be administered by a board of directors consisting of the chairman of the board of directors and chief executive officer of the Fund, the president and chief of operations of the Fund, the president of the Régie des rentes du Québec and eight other members appointed for three years by the Government who shall fix, as the case may be, the salary, additional salary, fees or allowances of each of them.
Of such eight members, two shall be chosen from among the officers of the Government or the directors of a government agency, another shall be chosen from among the representatives of associations of employees and another shall be chosen from among the directors of cooperative associations.
A government agency mentioned in the second paragraph is one to which the majority of its members are appointed by the Government or a minister, or at least one half of whose capital stock is derived from the consolidated revenue fund.
1965 (1st sess.), c. 23, s. 5; 1977, c. 5, s. 14; 1977, c. 62, s. 1; 1990, c. 84, s. 1.