S-22.1 - Act respecting the Société québécoise des transports

Section 14 Disposition versions

1983-07-05

14. Any member of the board of directors, other than the managing director, having a direct or indirect interest in an undertaking that causes such interest to conflict with that of the corporation shall, under pain of forfeiture of office, disclose it in writing to the managing director and abstain from participating in any decision involving the undertaking in which he has such interest.

Neither the managing director nor any other officer or employee of the corporation may, under pain of forfeiture of office, have any direct or indirect interest in any undertaking causing such interest to conflict with that of the corporation. However, such forfeiture is not incurred if such an interest devolves to him by succession or gift, provided he renounces or disposes of it with all possible dispatch.

1983, c. 27, s. 14.