Government of Canada / Gouvernement du Canada
Symbol of the Government of Canada

Search

Canadian Payments Act

Version of section 9.1 from 2021-04-02 to 2022-07-25:


Marginal note:Term of office — elected directors

  •  (1) The elected directors hold office for a term of three years and are eligible to be elected for two further terms.

  • Marginal note:Removal of elected directors

    (2) If a resolution passed by a two-thirds majority of the members who are present at a special meeting of members called to consider the resolution provides for the recall of an elected director, then, despite subsection (1), that director ceases to be a director of the Association at the time notice of the resolution is given to the director or at any other time that may be fixed by by-law.

  • Marginal note:Remuneration

    (3) A director referred to in paragraph 8(1)(d) shall be paid by the Association the remuneration that is fixed by by-law.

  • 2014, c. 39, s. 337
  • 2019, c. 29, s. 93
Date modified: