E-6.1 - Act respecting the regulation of the financial sector

Section 19.24 Disposition versions

2021-12-08

19.24. A person may not be appointed as or remain a member of the board of directors if

(1)  the person is subject to an Act referred to in section 7 or is a director or officer of an entity subject to such an Act;

(2)  the person was found guilty of an offence under any of the Acts referred to in section 7 during the five years prior to appointment or at any time while in the office of director, to the extent that the offence is incompatible with the office of director, unless the person has been pardoned;

(3)  the person did not file a return, certificate, attestation or report that ought to have been filed under an Act referred to in section 7 on the date determined by that Act, though the person was required to do so; or

(4)  the person owes an amount exigible under any of the Acts referred to in section 7, unless the person has entered into an agreement for the payment of the amount and complies with it, or the recovery of the amount has been suspended legally.

Subparagraph 1 of the first paragraph does not apply to the appointment of the President and Chief Executive Officer.

2021, c. 34, s. 83.