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S-11.04 - Act respecting the Société de promotion économique du Québec métropolitain
Section 20
Disposition versions
20. Any member of the board of directors or any member appointed as an observer, other than the president and general manager, having a direct or indirect interest in an enterprise which places his personal interest in conflict with that of the Société shall, on pain of forfeiture of his office, disclose it in writing to the chairman of the board and abstain from taking part in any deliberation or voting on any decision bearing upon the enterprise in which he has an interest.
On pain of forfeiture of office, the president and general manager and the staff members of the Société shall not have any direct or indirect interest in an enterprise placing their personal interest in conflict with that of the Société. However, forfeiture is not incurred if such an interest devolves to them by succession or gift, provided they renounce or dispose of it with diligence.
