Canadian Payments Act
15 (1) The Chairperson of the Board shall be the director appointed by the Bank of Canada and shall perform such duties as may be prescribed by the by-laws.
Marginal note:Absence of Chairperson
(2) Where the Chairperson is unable to act by reason of absence or incapacity, the alternate director appointed by the Bank of Canada under subsection 9(1) shall preside at meetings of the Board and perform the other duties of the Chairperson.
Marginal note:Additional vote
(3) The Chairperson or, in the absence or incapacity of the Chairperson, his or her alternate has, in the event of a tie vote on any matter before the Board at a meeting of the Board, a second vote.
- R.S., 1985, c. C-21, s. 15
- 2001, c. 9, ss. 232(E), 245(E)
- 2007, c. 6, s. 427(F)
- Date modified: