Boards of Trade Act (R.S.C., 1985, c. B-6)

Marginal note:Powers

• 8. (1) The persons named as incorporators in the certificate referred to in section 5, and such other persons as afterwards join them, are hereby authorized to carry into effect the objects for which the board of trade to which the certificate relates was constituted and to exercise the powers and privileges conferred by this Act.

• Marginal note:Body corporate

  (2) The persons referred to in subsection (1) and their associates, assigns and successors, by the name and style specified in the certificate, are a body corporate, with power to acquire, sell and convey any real property or immovable necessary for the objects of the board of trade.

Marginal note:Election of officers

9. When sections 3 to 7 have been complied with, it is competent for a majority of the persons named as incorporators in the certificate referred to in section 5 to hold a meeting for the election of a president, vice-president and members of the council and, without notice, to make and enact the by-laws, rules and regulations authorized by this Act.

Marginal note:Legal domicile

10. The usual place of meeting of a board of trade registered under this Act shall be held to be the legal domicile thereof, at which service of any notice or process may be made.

Marginal note:Officers of board of trade

11. The officers of every board of trade shall be a president, vice-president and secretary, who, together with at least eight other members, shall constitute a council of the corporation, which shall be called “The Council of the Board of Trade of (adding the name of the district)”, and who shall have the powers and perform the duties set out in this Act.

Marginal note:Election of president and members of council

• 12. (1) At the first quarterly meeting held in each year, the members of a corporation present, or a majority of them, shall elect, in the manner prescribed by the by-laws of the corporation, from among the members thereof, a president, vice-president and secretary, and at least eight other members, who, with the president, vice-president and secretary, shall form the council of the corporation.

• Marginal note:Tenure

  (2) The persons elected shall hold their offices until others are elected in their place, at the first quarterly meeting of the next year or until they are removed from office or vacate it under the by-laws of the corporation.