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F-3.2.0.4 - Act respecting security funds

Section 59
Disposition versions

Full text
59. If, following an inspection made under section 56 or the production of the statement contemplated in section 53, the Inspector General is of opinion that a serious fault has been committed, particularly malfeasance or breach of trust by one or more members of the board of directors, or that the board of directors resorts to administrative or financial practices he deems reprehensible, he may appoint an administrator to assume the powers of the board of directors, provisionally, for a period of seven working days.
1979, c. 53, s. 59; 1982, c. 52, s. 187.
59. If, following an inspection made under section 56 or the production of the statement contemplated in section 53, the Minister is of opinion that a serious fault has been committed, particularly malfeasance or breach of trust by one or more members of the board of directors, or that the board of directors resorts to administrative or financial practices he deems reprehensible, he may appoint an administrator to assume the powers of the board of directors, provisionally, for a period of seven working days.
1979, c. 53, s. 59.
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