Marginal note:R.S., c. 41 (4th Supp.), Part II
Amendments to Act
(2) The definition “President” in section 26 of the English version of the Act is repealed.
(3) Section 26 of the Act is amended by adding the following in alphabetical order:
“Chief Executive Officer”
« premier dirigeant »
“Chief Executive Officer” means the Chief Executive Officer of the Corporation appointed under subsection 28(1);
(4) Section 26 of the English version of the Act is amended by adding the following in alphabetical order:
« président »
“Chairperson” means the President of the Atlantic Canada Opportunities Agency appointed pursuant to subsection 11(1) of the Atlantic Canada Opportunities Agency Act;
248. Section 27 of the Act and the heading before it are replaced by the following:
27. The Enterprise Cape Breton Corporation is continued as a corporation consisting of a Board of Directors comprising the Chairperson, a Chief Executive Officer and five other directors appointed in accordance with subsection 28(2).
249. Subsections 28(1) to (3) of the Act are replaced by the following:
Marginal note:Appointment of Chief Executive Officer
28. (1) The Chief Executive Officer shall be appointed by the Governor in Council for a term that the Governor in Council considers appropriate, and may be removed at any time by the Governor in Council.
Marginal note:Appointment of directors
(2) Each director, other than the Chairperson and the Chief Executive Officer, shall be appointed by the Minister, with the approval of the Governor in Council, to hold office for a term not exceeding four years that will ensure, as far as possible, the expiration in any one year of the terms of office of not more than one half of the directors. Each director may be removed at any time by the Minister, with the approval of the Governor in Council.
(3) The Chief Executive Officer is eligible for re-appointment on the expiration of a term of office. Notwithstanding subsection 105(3) of the Financial Administration Act, any other director who has served two consecutive terms is not, during the twelve months following the completion of a second term, eligible for appointment except as Chairperson or Chief Executive Officer.
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