250. Sections 29 and 30 of the Act are replaced by the following:
Marginal note:Chairperson to preside
29. The Chairperson shall preside at meetings of the Board, but in the event of the absence or incapacity of the Chairperson or a vacancy in that office, the Chief Executive Officer shall preside.
Marginal note:Authority of Chief Executive Officer
30. (1) The Chief Executive Officer of the Corporation has, on behalf of the Board, the direction and control of the business of the Corporation with authority to act in the conduct of that business in all matters that are not by this Part or by the by-laws of the Corporation specifically reserved to be done by the Board.
Marginal note:Absence or incapacity
(2) In the event of the absence or incapacity of the Chief Executive Officer or a vacancy in that office, the Board shall authorize another officer or director of the Corporation to act as the Chief Executive Officer, but no person may act as such for a period exceeding sixty days without the approval of the Governor in Council.
251. (1) Subsection 31(1) of the Act is replaced by the following:
Marginal note:Salaries and fees
31. (1) The Chief Executive Officer shall be paid by the Corporation a salary to be fixed by the Governor in Council. The other directors, except the Chairperson, shall be paid by the Corporation the fees fixed by the Governor in Council for attendance at meetings of the Board or any committee of the Board.
(2) Subsection 31(2) of the English version of the Act is replaced by the following:
(2) Each director other than the Chairperson is entitled to be paid by the Corporation the travel and living expenses incurred in the performance of the director’s duties that are fixed by by-law of the Corporation.
252. (1) Paragraph 39(c) of the English version of the Act is replaced by the following:
(c) fixing the travel and living expenses to be paid to directors other than the Chairperson;
(2) Paragraph 39(e) of the Act is replaced by the following:
(e) respecting the establishment, management and administration of a pension fund for the Chief Executive Officer and the officers and employees of the Corporation and dependants of those persons, the contributions to be made to the fund by the Corporation and the investment of the pension fund moneys; and
Marginal note:Transitional — Vice-President
253. On the day on which this section comes into force, the person occupying the position of Vice-President of the Enterprise Cape Breton Corporation ceases to occupy that position and becomes the Chief Executive Officer of the Corporation, as if appointed to that position under subsection 28(1) of the Enterprise Cape Breton Corporation Act, for a term of office equivalent to the remainder of the person’s term as Vice-President.
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