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S-17 - Act respecting the Société générale de financement du Québec
Section 14.2
Disposition versions
14.2. (Repealed).
14.2. Any member of the board of directors, other than a member who exercises full-time functions within the company or any of its subsidiaries, who has a direct or indirect interest in an enterprise which places his personal interest in conflict with that of the company or any of its subsidiaries shall, on pain of forfeiture of office, file a written disclosure with the company, and must abstain from voting on any decision bearing upon the enterprise and avoid influencing the decision relating to it. The board member must also withdraw from the meeting while the matter is discussed or voted on.
No member of the board of directors who exercises full-time functions within the company or any of its subsidiaries and no employee of the company shall, on pain of forfeiture of office, have any direct or indirect interest in an enterprise placing their personal interest in conflict with that of the company or any of its subsidiaries. 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.
