C-4 - Savings and Credit Unions Act

Section 103 Disposition versions

1998-04-01

103. If following an inspection made under this Act the Government is of opinion that there has been malfeasance, breach of trust or other misconduct by one or more members of the board of directors, the board of supervision or the committee on credit of a union, or that such a board or committee is seriously remiss in the performance of the obligations imposed upon it by this Act or follows administrative practices which endanger the security of the savings of the members, it may order that the powers of such board or such committee be suspended and appoint an administrator who shall exercise its powers for such period as the Minister shall determine.

For the purposes of the first paragraph, the Government shall proceed upon the recommendation of the Minister acting, after having obtained the opinion of the Inspector General, in his own right or upon the application of the federation with which the union concerned is affiliated.

Before the powers of such board or such committee are suspended, the Minister must give the union to which such board or such committee belongs an opportunity to present observations; he shall also give a similar notice for such purpose to the federation with which the union is affiliated unless he is acting upon the application of the federation.

1970, c. 59, s. 37; 1978, c. 85, s. 23; 1982, c. 52, s. 94; 1997, c. 43, s. 103.

1983-04-01

103. If following an inspection made under this act the Government is of opinion that there has been malfeasance, breach of trust or other misconduct by one or more members of the board of directors, the board of supervision or the committee on credit of a union, or that such a board or committee is seriously remiss in the performance of the obligations imposed upon it by this act or follows administrative practices which endanger the security of the savings of the members, it may order that the powers of such board or such committee be suspended and appoint an administrator who shall exercise its powers for such period as the Minister shall determine.

For the purposes of the first paragraph, the Government shall proceed upon the recommendation of the Minister acting, after having obtained the opinion of the Inspector General, in his own right or upon the application of the federation with which the union concerned is affiliated.

Before the powers of such board or such committee are suspended, the Minister must give the union to which such board or such committee belongs an opportunity to express its views; he shall also give a similar notice for such purpose to the federation with which the union is affiliated unless he is acting upon the application of the federation.

1970, c. 59, s. 37; 1978, c. 85, s. 23; 1982, c. 52, s. 94.

1978-06-23

103. If following an inspection made under this act the Government is of opinion that there has been malfeasance, breach of trust or other misconduct by one or more members of the board of directors, the board of supervision or the committee on credit of a union, or that such a board or committee is seriously remiss in the performance of the obligations imposed upon it by this act or follows administrative practices which endanger the security of the savings of the members, it may order that the powers of such board or such committee be suspended and appoint an administrator who shall exercise its powers for such period as the Minister shall determine.

For the purposes of the preceding paragraph, the Government shall proceed upon the recommendation of the Minister acting in his own right or upon the application of the federation with which the union concerned is affiliated.

Before the powers of such board or such committee are suspended, the Minister must give the union to which such board or such committee belongs an opportunity to express its views; he shall also give a similar notice for such purpose to the federation with which the union is affiliated unless he is acting upon the application of the federation.

1970, c. 59, s. 37; 1978, c. 85, s. 23.

1977-12-31

103. If following an inspection made under section 93 the Gouvernement is of opinion that there has been malfeasance, breach of trust or other misconduct by one or more members of the board of directors, the board of supervision or the committee on credit of a union, or that such a board or committee is seriously remiss in the performance of the obligations imposed upon it by this act or follows administrative practices which endanger the security of the savings of the members, it may order that the powers of such board or such committee be suspended and appoint an administrator who shall exercise its powers for such period as the Minister shall determine.

For the purposes of the preceding paragraph, the Gouvernement shall proceed upon the recommendation of the Minister acting in his own right or upon the application of the federation with which the union concerned is affiliated.

Before the powers of such board or such committee are suspended, the Minister must give the union to which such board or such committee belongs an opportunity to express its views; he shall also give a similar notice for such purpose to the federation with which the union is affiliated unless he is acting upon the application of the federation.

1970, c. 59, s. 37.