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S-22 - Act respecting the Société québécoise d’initiatives pétrolières

Section 10
Disposition versions

Full text
10. The affairs of the Company shall be managed by a board of directors composed of
(a)  the president of the Company appointed by the Government after consultation with the other members of the board for a term of not over five years, subject to the contract contemplated in the second paragraph of section 13; and
(b)  from six to ten other members appointed by the Government for a term of not over two years.
The members of the board of directors are the directors of the Company within the meaning of the Companies Act (chapter C-38) but need not be shareholders.
1969, c. 36, s. 7; 1974, c. 25, s. 3; 1980, c. 27, s. 5.
10. The affairs of the Company shall be managed by a board of seven directors, including a president and a vice-president, appointed by the Government. Such directors shall be the directors of the Company within the meaning of the Companies Act.
The president of the Company shall be appointed for ten years and the other members for five years. Nevertheless, one of the first members of the board of directors, other than the president, shall be appointed for one year, one for two years, one for three years and another for four years.
1969, c. 36, s. 7; 1974, c. 25, s. 3.
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