Business Development Bank of Canada Act

Marginal note:Remuneration of directors

• 13 (1) The Chairperson and each director, except the President and any director employed in the federal public administration, are entitled to be paid by the Bank the remuneration fixed by the Governor in Council for their time to attend meetings of the Board or any committee of the Board and to perform their duties under this Act.

• Marginal note:Remuneration of President

  (2) The President is entitled to be paid by the Bank the remuneration fixed by the Governor in Council.

• Marginal note:Expenses of directors

  (3) Directors are entitled to be paid by the Bank reasonable travel and living expenses incurred in connection with the performance of their duties under this Act while absent from their ordinary places of residence.

• Marginal note:Other remuneration and expenses

  (4) Officers, employees, agents or mandataries, advisers and consultants are entitled to be paid by the Bank the remuneration, expenses and benefits that the Bank may determine.

• Marginal note:Pension fund

  (5) The Board may make by-laws respecting

  • (a) the establishment, management and administration of a pension fund for the officers and employees of the Bank and their dependants;

  • (b) the contributions to be made to the fund by the Bank;

  • (c) the provision of benefits under the fund;

  • (d) the payment of pensions; and

  • (e) the investment of the money of the fund.