Canadian Payments Act
Marginal note:Right to vote
13 (1) Every member is entitled to vote for the directors representing the class to which the member belongs and may cast the number of votes that the member is entitled to cast, as determined by the regulations, multiplied by the number of directors of that class to be elected and the member may cast all such votes in favour of one candidate or distribute them among the candidates in any manner.
(2) At a meeting of a class of members at which a director is to be elected, the members of that class present or deemed to be present, in person or by proxy, constitute a quorum if, together, they are entitled to cast a majority of the votes that may be cast for the election of a director by all members of that class.
(3) [Repealed, 2001, c. 9, s. 230]
- R.S., 1985, c. C-21, s. 13
- 2001, c. 9, s. 230
- Date modified: