M-19.1.2 - Act respecting the Ministère de la Recherche, de la Science et de la Technologie

Section 15.27 Disposition versions

2001-06-21

15.27. In no case may the chairman and managing director, under pain of forfeiture of office, have any direct or indirect interest in an undertaking causing his personal interest to conflict with that of the Fonds. However, such forfeiture is not incurred if such an interest devolves to him by succession or gift, provided that he renounces or disposes of it with all possible dispatch.

Any other member of the board of directors who has any interest in such an undertaking must, under pain of forfeiture of office, disclose it in writing to the chairman and managing director and abstain from participating in any deliberation and any decision concerning the undertaking.

1983, c. 23, s. 76; 1999, c. 8, s. 17; 2001, c. 28, s. 8.

1999-06-08

15.27. In no case may the managing director, under pain of forfeiture of office, have any direct or indirect interest in an undertaking causing his personal interest to conflict with that of the Fonds. However, such forfeiture is not incurred if such an interest devolves to him by succession or gift, provided that he renounces or disposes of it with all possible dispatch.

Any other member of the board of directors who has any interest in such an undertaking must, under pain of forfeiture of office, disclose it in writing to the managing director and abstain from participating in any deliberation and any decision concerning the undertaking.

1983, c. 23, s. 76; 1999, c. 8, s. 17.