20. The term of each member of the board of directors contemplated in sections 16 and 17 commences at the termination of the annual general meeting immediately following his election or appointment, as the case may be.
The term of each member contemplated in section 18 commences at the time prescribed in the by-laws of the Corporation or, if he is elected at the annual general meeting, at the termination of the meeting.
Such term shall not exceed three years in the case of elected members and two years in the case of representatives of the Government appointed in accordance with section 17.
1978, c. 91, s. 20; 1987, c. 55, s. 2.