S-11.01 - Act respecting the Société de développement industriel du Québec

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39.1. In no case may the president, under pain of forfeiture of office, have any direct or indirect interest in any undertaking causing his personal interest to conflict with that of the Corporation. However, forfeiture is not incurred if the interest devolves on him by succession or gift, provided he renounces it or disposes of it with dispatch.
Any member of the board of directors, other than the president, having a direct or indirect interest in an undertaking causing his personal interest to conflict with that of the Corporation shall, under pain of forfeiture of his office, disclose it in writing to the president and abstain from taking part in any decision respecting the undertaking in which he has the interest.
1985, c. 30, s. 90.