S-31.1 - Business Corporations Act

Section 127 Disposition versions

2011-02-14

127. No director may vote on a resolution to approve, amend or terminate the contract or transaction described in section 122 or 123 or be present during deliberations concerning the approval, amendment or termination of such a contract or transaction unless the contract or transaction

(1)  relates primarily to the remuneration of the director or an associate of the director as a director of the corporation or an affiliate of the corporation;

(2)  relates primarily to the remuneration of the director or an associate of the director as an officer, employee or mandatary of the corporation or an affiliate of the corporation, if the corporation is not a reporting issuer;

(3)  is for indemnity or liability insurance under Division VII; or

(4)  is with an affiliate of the corporation, and the sole interest of the director is as a director or officer of the affiliate.

2009, c. 52, s. 127.