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Trust and Loan Companies Act

Version of section 163 from 2007-04-20 to 2024-05-01:

Marginal note:Minimum number of directors

  •  (1) A company shall have at least seven directors.

  • Marginal note:Residency requirement

    (2) At least one half of the directors of a company that is a subsidiary of a foreign institution or of a prescribed holding body corporate of a foreign institution and a majority of the directors of any other company must be, at the time of each director’s election or appointment, resident Canadians.

  • 1991, c. 45, s. 163
  • 2001, c. 9, s. 498
  • 2007, c. 6, s. 346

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