Financial Administration Act
Marginal note:Appointment of directors
105 (1) Each director, other than an officer-director, of a parent Crown corporation shall be appointed by the appropriate Minister, with the approval of the Governor in Council, to hold office during pleasure for a term not exceeding four years that will ensure, as far as possible, the expiration in any one year of the terms of office of not more than one half of the directors of the corporation.
Marginal note:Majority not to be officers
(2) The majority of the directors of a parent Crown corporation are not to be officers or employees of the corporation or any of its affiliates.
(3) A director of a parent Crown corporation is eligible for re-appointment on the expiration of his term of office.
Marginal note:Continuation in office
(4) Despite subsection (1), if a director of a parent Crown corporation is not appointed to take office on the expiration of the term of an incumbent director, other than an officer-director, the incumbent director continues in office until his or her successor is appointed.
Marginal note:Appointment of officer-directors
(5) Each officer-director of a parent Crown corporation shall be appointed by the Governor in Council to hold office during pleasure for such term as the Governor in Council considers appropriate.
(6) Before an officer-director of a parent Crown corporation is appointed, the appropriate Minister shall consult the board of directors of the corporation with respect to the appointment.
Marginal note:Appointment of subordinate officers
(7) Subject to any other Act of Parliament that was in force on September 1, 1984, the board of directors of a parent Crown corporation is responsible for the appointment of officers of the corporation, other than officer-directors.
Marginal note:Qualifications preserved
(8) Nothing in this section is to be construed as empowering the appointment or re-appointment as a director or officer-director of a parent Crown corporation, or the continuation in office as a director of a parent Crown corporation, of any person who does not meet any qualifications for the appointment, re-appointment or continuation established by any other Act of Parliament.
(9) This section does not apply to an ex officio director or officer-director of a parent Crown corporation.
(10) [Repealed, 1991, c. 24, s. 30]
- R.S., 1985, c. F-11, s. 105;
- R.S., 1985, c. 1 (4th Supp.), s. 44(E);
- 1991, c. 24, s. 30;
- 2004, c. 16, s. 8;
- 2006, c. 9, s. 267.
- Date modified: