C-26, r. 276 - Regulation respecting the practice of the profession of certified translator, terminologist or interpreter within a partnership or a joint-stock company

Section 2 Disposition versions

2012-09-01

2. A member of the Order may carry on professional activities within a partnership or joint-stock company that holds itself out to be exclusively a partnership or joint-stock company of certified translators, terminologists or interpreters or a combination of translators, terminologists or interpreters, if

(1)  more than 50% of the voting rights attached to the company shares or partnership units are held by the following persons or trusts or a combination of persons or trusts:

(a)  members of the Order;

(b)  a joint-stock company where at least 90% of the voting rights attached to the shares are held by members of the Order;

(c)  a trust where all the trustees are members of the Order;

(2)  a majority of the directors of the board of directors of the joint-stock company, the partners or, as the case may be, the managers appointed by the partners to manage the affairs of the limited liability partnership are members of the Order;

(3)  the quorum for the board of directors of the joint-stock company is formed of a majority of members of the Order; and

(4)  the chair of the board of directors of the joint-stock company or the person who performs similar functions in a limited liability partnership is a member of the Order and, as the case may be, a shareholder with voting rights or a partner.

A member of the Order must ensure that the conditions listed in the first paragraph appear, as the case may be, in the articles of the joint-stock company or in the contract of the partnership and that those documents also provide that the partnership or joint-stock company is constituted for the purpose of carrying on professional activities.

O.C. 1091-2010, s. 2.