S-10.002 - Act respecting the Société de développement des entreprises culturelles

Full text
14. (Repealed).
1994, c. 21, s. 14; 2007, c. 13, s. 8.
14. The chairman and the members of the personnel of the Société may not, on pain of forfeiture of office, have any direct or indirect interest in an enterprise placing their personal interest in conflict with that of the Société. However, forfeiture of office is not incurred if the interest devolves to them by succession or gift, provided they renounce or dispose of it with diligence.
Any other member of the board of directors who has a direct or indirect interest in an enterprise placing his personal interest in conflict with that of the Société shall, on pain of forfeiture of office, disclose it in writing to the chairman and abstain from taking part in any debate or decision bearing upon the enterprise in which he has such an interest and from taking part in any part of a meeting of the board of directors during which his interest is discussed.
1994, c. 21, s. 14.