20. Any vacancy occurring during the term of office of a member of the board of directors must be filled for the remainder of that member’s term.
In the case of a designated member, the vacancy is filled by resolution of the board provided the person who is the subject of the resolution is qualified to sit on the board in the same capacity as the member being replaced. A vacancy that is not filled by the board within 120 days may be filled by the Minister.
In the case of an appointed member, the vacancy is filled by the Minister, who is not required in such a case to follow the appointment rules set out in sections 15 and 16. The Minister may, however, request the institution’s president and executive director to propose candidates.
Absence from the number of board meetings determined in the institution’s by-laws, in the cases and circumstances specified, constitutes a vacancy.