Effective Director Regulation (B.C. Reg. 243/94)

Forest Act -- EFFECTIVE DIRECTOR REGULATION file:///D/HTML/bc26012.htm[14.01.2025 19:40:09] B.C. Reg. 243/94 O.C. 986/94 Deposited July 15, 1994 Forest Act EFFECTIVE DIRECTOR REGULATION Effective director 1 For the purposes of section 53 (1) of the Forest Act, "effective director" means (a) if the rights or powers available to a director or the positions, offices or committees to which a director may be appointed or elected do not vary from one director or class of directors to another director or class of directors, a director, or (b) if the rights or powers available to a director or the positions, offices or committees to which a director may be appointed or elected vary from one director or class of directors to another director or class of directors, a director who, alone or with other directors, has the right (i) to make material corporate decisions or to vote on resolutions of some or all of the directors having the right to make material corporate decisions, or (ii) to elect or appoint, or to vote on resolutions of some or all of the directors having the right to elect or appoint, persons who have the right to make material corporate decisions. [Provisions of the Forest Act, R.S.B.C. 1996, c. 157, relevant to the enactment of this regulation: section 151]