Budget Implementation Act, 1998

Marginal note:Delegation by directors

• 25 (1) Subject to subsection (2), the Board may delegate to the Chairperson, a committee of directors or an officer of the Foundation any of the powers or rights of the Board.

• Marginal note:Restrictions on delegation

  (2) The Board shall not delegate any power or right of the Board

  • (a) to enact, amend or repeal by-laws;

  • (b) to authorize the granting of scholarships;

  • (c) to appoint directors to, or fill vacancies on, a committee of the Board;

  • (d) to appoint officers of the Foundation or fix their remuneration;

  • (e) to accept donations;

  • (f) to approve the financial statements or reports of the Foundation; or

  • (g) to submit to the members any matter requiring the approval of the members.