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S-12 - Act respecting the Société de récupération, d’exploitation et de développement forestiers du Québec

Section 14
Disposition versions

Full text
14. A member of the board of directors having an interest in an undertaking putting his personal interest in conflict with the Company’s interest shall, under pain of forfeiture of office, disclose it in writing to the Company and refrain from participating in any decision dealing with the undertaking in which he has an interest.
Neither the president of the Company nor any other officer or employee of the Company may, under pain of forfeiture of office, have a direct or indirect interest in an undertaking putting his personal interest in conflict with the Company’s interest. Such forfeiture does not occur, however, if such an interest devolves to him by succession or gift, provided that he renounces or disposes of it with all possible dispatch.
1973, c. 21, s. 14; 1979, c. 8, s. 6; 1996, c. 24, s. 6.
14. A member of the board of directors having an interest in an undertaking putting his personal interest in conflict with the Company’s interest shall, under pain of forfeiture of office, disclose it in writing to the president and refrain from participating in any decision dealing with the undertaking in which he has an interest.
Neither the president of the Company nor any other officer or employee of the Company may, under pain of forfeiture of office, have a direct or indirect interest in an undertaking putting his personal interest in conflict with the Company’s interest. Such forfeiture does not occur, however, if such an interest devolves to him by succession or gift, provided that he renounces or disposes of it with all possible dispatch.
1973, c. 21, s. 14; 1979, c. 8, s. 6.
14. No director, officer or employee of the Company shall, under pain of forfeiture of office, have a direct or indirect interest in an undertaking putting his personal interest in conflict with the Company’s interest. Such forfeiture shall not occur, however, if the interest devolves to him by succession or gift and he renounces or disposes of it with all possible dispatch.
1973, c. 21, s. 14.
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