Public Sector Pension Investment Board Act (S.C. 1999, c. 34)

Marginal note:Reappointment of directors

• 11. (1) A director is eligible for reappointment for one or more additional terms of office.

• Marginal note:Removal

  (2) The Governor in Council may remove a director for cause.

• Marginal note:Continuation in office

  (3) If no person is appointed to take office as a director on the expiry of the term of an incumbent director, the incumbent director continues in office until a successor is appointed.

• Marginal note:Vacancy

  (4) If a person ceases to be a director during the term for which the person was appointed, the Minister shall consult the list established by the nominating committee and shall appoint a qualified person to hold office as a director for the remainder of the term.

Marginal note:Remuneration of directors

12. A director is entitled to receive from the Board the remuneration that may be fixed by the by-laws, which remuneration shall be fixed having regard to the remuneration received by persons having similar responsibilities and engaged in similar activities.

Marginal note:Resignation

• 13. (1) The resignation of a director becomes effective at the time the Board receives a written resignation or at the time specified in the resignation, whichever is later.

• Marginal note:Copy of resignation

  (2) The Board shall send a copy of a director’s resignation to the Clerk of the Privy Council within 15 days after receiving it.

Marginal note:Chairperson

• 14. (1) The Governor in Council shall, on the recommendation of the Minister after the Minister has consulted with the board of directors, the Minister of National Defence and the Minister of Public Safety and Emergency Preparedness, designate one of the directors as Chairperson to hold office during good behaviour.

• Marginal note:Removal

  (2) The Governor in Council may remove the Chairperson for cause.

• Marginal note:Presiding at meetings

  (3) The Chairperson shall preside at all meetings of the board of directors and may exercise the powers and perform the duties and functions that are specified by the board of directors.

• Marginal note:Replacement of Chairperson

  (4) If the Chairperson is absent at any meeting of the board of directors, one of the directors present who is chosen to so act by the directors present shall preside and have all the powers, duties and functions of the Chairperson.

• Marginal note:Incapacity of Chairperson

  (5) If the Chairperson is incapable of performing his or her duties or there is a vacancy in the office of Chairperson, the Minister may designate another director to exercise the powers and perform the duties and functions of the Chairperson.

• Marginal note:Remuneration of Chairperson

  (6) The Chairperson is entitled to receive from the Board the remuneration that may be fixed by the by-laws, which remuneration shall be fixed having regard to the remuneration received by persons having similar responsibilities and engaged in similar activities.