Canadian Race Relations Foundation Act

Marginal note:Investment Committee

• 23 (1) There is hereby established an Investment Committee consisting of the Chairperson, a director to be designated by the Board and three other persons to be appointed by the Governor in Council, on the recommendation of the Minister, as provided in this section.

• Marginal note:Term of Governor in Council appointees

  (2) Each member of the Investment Committee appointed by the Governor in Council shall be appointed to hold office for such term, not exceeding three years, as will ensure, as far as possible, the expiry in any one year of the term of office of not more than one of those members.

• Marginal note:Qualifications for appointment

  (3) No person who is a director or who does not have financial or investment consulting experience shall be appointed by the Governor in Council as a member of the Investment Committee.

• Marginal note:Termination of membership

  (4) A member of the Investment Committee appointed by the Governor in Council ceases to hold that office if the member is appointed as a director.

• Marginal note:Duties

  (5) The Investment Committee shall aid and advise the Board in making, managing and disposing of investments under this Act.

• Marginal note:Remuneration

  (6) The members of the Investment Committee who are not directors may be paid for their services such remuneration and expenses as the Governor in Council may fix.