H-5 - Hydro-Québec Act

Section 19 Disposition versions

2022-06-03

19. A board member who exercises functions within the Company on a full-time basis shall not have a direct or indirect interest in a body, enterprise or association that places the board member’s personal interests in conflict with the Company’s interests. If such an interest devolves to the board member, including by succession or gift, it must be renounced or disposed of with dispatch.

Any other board member who has a direct or indirect interest in a body, enterprise or association that places the member’s personal interests in conflict with the Company’s interests shall disclose it in writing to the chair of the board of directors or, in the case of the chair, to the Minister and the person designated under section 5 and abstain from participating in any discussion or decision involving the body, enterprise or association in which the member has that interest. The member must also withdraw from a meeting for the duration of the discussion or vote on such a matter.

This section does not prevent a board member from expressing an opinion on general measures relating to conditions of employment within the Company which would also apply to the member.

A member of the board of directors may hold the shares required to qualify him to be a director of a company of which the Company has acquired shares under section 39 or of Churchill Falls (Labrador) Company Limited.

R. S. 1964, c. 86, s. 17; 1969, c. 34, s. 3; 1978, c. 41, s. 6; 1999, c. 40, s. 145; 2006, c. 59, s. 58; 2022, c. 19, s. 155.

2006-12-14

19. A board member who exercises functions within the Company on a full-time basis shall not have a direct or indirect interest in a body, enterprise or association that places the board member’s personal interests in conflict with the Company’s interests. If such an interest devolves to the board member, including by succession or gift, it must be renounced or disposed of with dispatch.

Any other board member who has a direct or indirect interest in a body, enterprise or association that places the member’s personal interests in conflict with the Company’s interests shall disclose it in writing to the chair of the board of directors and abstain from participating in any discussion or decision involving the body, enterprise or association in which the member has that interest. The member must also withdraw from a meeting for the duration of the discussion or vote on such a matter.

This section does not prevent a board member from expressing an opinion on general measures relating to conditions of employment within the Company which would also apply to the member.

A member of the board of directors may hold the shares required to qualify him to be a director of a company of which the Company has acquired shares under section 39 or of Churchill Falls (Labrador) Company Limited.

R. S. 1964, c. 86, s. 17; 1969, c. 34, s. 3; 1978, c. 41, s. 6; 1999, c. 40, s. 145; 2006, c. 59, s. 58.

1999-10-22

19. No member of the board of directors holding a full-time office with the Company or one of its subsidiaries may, under pain of forfeiture of his office, have any direct or indirect interest in an undertaking putting his personal interest in conflict with that of the Company. However, such forfeiture is not incurred if that interest devolves to him by succession or gift, provided that he renounces or disposes of it with all possible dispatch.

Every other member of the board of directors who has an interest in an undertaking must, on pain of forfeiture of his office, divulge such interest in writing to the chairman of the board, and abstain from participating in any decision pertaining to an undertaking in which he has an interest.

A member of the board of directors may hold the shares required to qualify him to be a director of a company of which the Company has acquired shares under section 39 or of Churchill Falls (Labrador) Company Limited.

R. S. 1964, c. 86, s. 17; 1969, c. 34, s. 3; 1978, c. 41, s. 6; 1999, c. 40, s. 145.

1978-10-01

19. No member of the board of directors holding a full-time office with the Corporation or one of its subsidiaries may, under pain of forfeiture of his office, have any direct or indirect interest in an undertaking putting his personal interest in conflict with that of the Corporation. However, such forfeiture is not incurred if that interest devolves to him by succession or gift, provided that he renounces or disposes of it with all possible dispatch.

Every other member of the board of directors who has an interest in an undertaking must, on pain of forfeiture of his office, divulge such interest in writing to the chairman of the board, and abstain from participating in any decision pertaining to an undertaking in which he has an interest.

A member of the board of directors may hold the shares required to qualify him to be a director of a company of which the Corporation has acquired shares under section 39 or of Churchill Falls (Labrador) Corporation Limited.

R. S. 1964, c. 86, s. 17; 1969, c. 34, s. 3; 1978, c. 41, s. 6.

1977-12-31

19. No member of the Commission, under pain of forfeiture of his office, shall have any direct or indirect interest in an undertaking that puts his personal interest in conflict with that of the Commission.

Such forfeiture, however, shall not be incurred if such interest devolves to him by succession or gift and he renounces or disposes of it with all possible dispatch.

A member of the Commission may hold the shares required to qualify him to be a director of a company of which the Commission has acquired shares under section 39 or of Churchill Falls (Labrador) Corporation Limited.

R. S. 1964, c. 86, s. 17; 1969, c. 34, s. 3.