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S-19 - Act respecting the Société québécoise d’exploration minière
Section 19
Disposition versions
19. Every member of the board of directors remains in office at the expiry of his term until he is replaced or reappointed.
The Government shall fill a vacancy occurring before the expiry of a term, in the manner and for the time prescribed in section 14.
19. No director shall have an interest in any mining exploration or operation undertaking, or in any undertaking for the manufacture or sale of equipment or materials used in mining exploration or operations, or in any undertaking to provide services for such purposes.
If a director had such an interest at the time of his appointment, or if such an interest devolves to him subsequently by succession, gift or otherwise, he must promptly dispose thereof.
An interest in any security listed on a recognized stock exchange shall not give rise to the application of this section, if it is equal to less than a one ten-thousandth part (0.01%) of the total outstanding amount of such security.
