C-26, r. 276 - Regulation respecting the practice of the profession of certified translator, terminologist or interpreter within a partnership or a joint-stock company

Section 3 Disposition versions

2012-09-01

3. In cases other than those provided for in section 2, a member of the Order is authorized to carry on professional activities within a joint-stock company or a limited liability partnership, if

(1)  more than 50% of the voting rights attached to the company shares or partnership units are held by the following persons or trusts or a combination of persons or trusts:

(a)  1 or more members of a professional order governed by the Professional Code (chapter C-26) or 1 member of one of the following professional associations:

— an association of translators, terminologists or interpreters that is a member of the Canadian Translators, Terminologists and Interpreters Council;

— an order of accountants governed by the law of another Canadian province or territory;

— a law society governed by the law of another Canadian province or territory;

(b)  a joint-stock company where at least 90% of the voting rights attached to the shares are held by persons referred to in subparagraph a;

(c)  a trust where all the trustees are persons referred to in subparagraph a;

(2)  a majority of the directors of the board of directors of the joint-stock company, the partners or, as the case may be, the managers appointed by the partners to manage the affairs of the limited liability partnership are persons referred to in subparagraph a of subparagraph 1; and

(3)  the quorum for the board of directors of the joint-stock company is formed of a majority of persons referred to in subparagraph a of subparagraph 1.

A member of the Order must ensure that the conditions listed in the first paragraph appear, as the case may be, in the articles of the joint-stock company or in the contract of the limited liability partnership and that those documents also provide that the partnership or joint-stock company is constituted for the purpose of carrying on professional activities.

O.C. 1091-2010, s. 3.