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S-22 - Act respecting the Société québécoise d’initiatives pétrolières
Section 15
Disposition versions
15. The Government shall fix the remuneration of the chairman and vice-chairman of the board and that of the other members contemplated in subparagraph b of the first paragraph of section 10.
The members of the board of directors, except the president of the Company, are compensated or reimbursed for the costs and expenses incurred by them in the exercise of their functions according to the standards and scales determined by by-law of the Company.
15. Under pain of forfeiture of his office, no member of the board of directors shall have any direct or indirect interest in an undertaking that puts his personal interest in conflict with that of the Company.
Such forfeiture shall not be incurred, however, if such interest devolves to him by succession or gift and he renounces or disposes of it with all possible dispatch.
