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C-67.3 - Act respecting financial services cooperatives

Section 534
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Full text
534. (Repealed).
2000, c. 29, s. 534; 2002, c. 45, s. 338; 2004, c. 37, s. 90; 2008, c. 7, s. 65.
534. If, following an inspection made under section 531 or the production of the statement referred to in section 528, the Authority is of opinion that a serious fault has been committed, particularly embezzlement or breach of trust by one or more members of the board of directors, or that the board of directors engages in management practices that are not sound and prudent, the Authority may appoint a provisional administrator to assume the powers of the board of directors, temporarily, for a period of seven working days.
2000, c. 29, s. 534; 2002, c. 45, s. 338; 2004, c. 37, s. 90.
534. If, following an inspection made under section 531 or the production of the statement referred to in section 528, the Agency is of opinion that a serious fault has been committed, particularly embezzlement or breach of trust by one or more members of the board of directors, or that the board of directors engages in management practices that are not sound and prudent, the Agency may appoint a provisional administrator to assume the powers of the board of directors, temporarily, for a period of seven working days.
2000, c. 29, s. 534; 2002, c. 45, s. 338.
534. If, following an inspection made under section 531 or the production of the statement referred to in section 528, the Inspector General is of opinion that a serious fault has been committed, particularly embezzlement or breach of trust by one or more members of the board of directors, or that the board of directors engages in management practices that are not sound and prudent, the Inspector General may appoint a provisional administrator to assume the powers of the board of directors, temporarily, for a period of seven working days.
2000, c. 29, s. 534.
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