S-17.01 - Act respecting the Société générale des industries culturelles

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14. No member of the board of directors exercising his functions on a full-time basis may, under pain of forfeiture of his office, have any direct or indirect interest in an undertaking placing his personal interest in conflict with that of the company. However, that forfeiture is not incurred if such an interest devolves to him by succession or gift provided that he renounces or disposes of it with all possible dispatch.
Every other member of the board of directors having an interest in any undertaking must, under pain of forfeiture of his office, disclose it in writing to the chairman and abstain from participating in any deliberation or decision dealing with the undertaking in which he has an interest.
1978, c. 24, s. 14.