S-5 - Act respecting health services and social services for Cree Native persons

Section 149.14 Disposition versions

2002-12-19

149.14. (Repealed).

1988, c. 47, s. 2; 1999, c. 40, s. 270; 2002, c. 69, s. 156.

1999-10-22

149.14. On pain of forfeiture of office, in no case may the director general of the Corporation have any direct or indirect interest in an enterprise which places his personal interest in conflict with that of the Corporation. However, forfeiture is not incurred if the interest devolves by succession or gift, provided it is renounced or disposed of with diligence.

Every member of the board of directors, other than the director general of the Corporation, who has a direct or indirect interest in an enterprise which places his personal interest in conflict with that of the Corporation shall, on pain of forfeiture of office, disclose his interest in writing to the director general and abstain from taking part in any debate or decision bearing upon the enterprise in which he has an interest.

For any member of the board of directors, the fact of being a minority shareholder of a legal person which operates an enterprise referred to in this section does not constitute a situation of conflict of interest if the shares of the legal person are listed on a recognized stock exchange and if the member of the board of directors involved is not an insider of the legal person within the meaning of section 89 of the Securities Act (chapter V-1.1).

1988, c. 47, s. 2; 1999, c. 40, s. 270.

1989-03-08

149.14. On pain of forfeiture of office, in no case may the director general of the Corporation have any direct or indirect interest in an enterprise which places his personal interest in conflict with that of the Corporation. However, forfeiture is not incurred if the interest devolves by succession or gift, provided it is renounced or disposed of with diligence.

Every member of the board of directors, other than the director general of the Corporation, who has a direct or indirect interest in an enterprise which places his personal interest in conflict with that of the Corporation shall, on pain of forfeiture of office, disclose his interest in writing to the director general and abstain from taking part in any debate or decision bearing upon the enterprise in which he has an interest.

For any member of the board of directors, the fact of being a minority shareholder of a corporation which operates an enterprise referred to in this section does not constitute a situation of conflict of interest if the shares of the corporation are listed on a recognized stock exchange and if the member of the board of directors involved is not an insider of the corporation within the meaning of section 89 of the Securities Act (chapter V-1.1).

1988, c. 47, s. 2.