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First Nations Fiscal Management Act

Version of section 63 from 2005-03-23 to 2006-03-31:

The following provision is not in force.

Marginal note:Term of office

  •  (1) Directors shall hold office on a part-time basis for a term of one year.

  • Marginal note:Additional terms

    (2) A director is eligible to be re-elected for a second or subsequent term of office.

  • Marginal note:Ceasing to be director

    (3) A person ceases to be a director when

    • (a) the person ceases to hold office as a chief or councillor of a first nation that is a borrowing member or investing member;

    • (b) the person’s designation as a representative of a borrowing member or investing member is revoked by a resolution of the council of that first nation; or

    • (c) the person is removed from office before the expiry of the term of the appointment by a special resolution of the board of directors.

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