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Bank Act

Version of section 206 from 2012-12-19 to 2019-07-01:


Marginal note:Court may set aside or require accounting

 If a director or officer of a bank fails to comply with any of sections 202 to 205, a court, on application of the bank or any of its shareholders or members, may set aside the contract or transaction on any terms that the court thinks fit and may require the director or officer to account to the bank for any profit or gain realized on it.

  • 1991, c. 46, s. 206
  • 2005, c. 54, s. 41
  • 2010, c. 12, s. 1992
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