7. The affairs of the company are administered by a board of directors composed of seven members, including a chairman, appointed by the Government for a period not to exceed five years in the case of the chairman or three years in the case of the other members.
The members of the board of directors are the directors of the company within the meaning of the Companies Act (chapter C-38).
No person may be a member of the board of directors unless he is domiciled in Québec, but he is not required to be a shareholder.