Business Development Bank of Canada Act (S.C. 1995, c. 28)

Act current to 2014-10-27 and last amended on 2012-03-16. Previous Versions

Marginal note:Functions of Board
  •  (1) The Board shall direct and manage the business and affairs of the Bank.

  • Marginal note:By-laws

    (2) The Board may, by resolution, make by-laws to regulate the business and affairs of the Bank.

  • Marginal note:Committees

    (3) The Board may establish an Executive Committee, or any other committee or advisory group that the Board considers advisable, and determine its composition and duties and the tenure of its members.

  • Marginal note:Executive Committee

    (4) The Board may delegate power to, and specify duties and authority of, the Executive Committee to act in all matters that are not by this Act or any by-law or resolution specifically reserved to be done by the Board.

Officers and Employees

Marginal note:Duties of Chairperson

 The Chairperson shall carry out the duties determined by by-law.

Marginal note:Duties of President
  •  (1) The President is the chief executive officer of the Bank and has, on behalf of the Board, the direction and management of the business and affairs of the Bank with authority to act in all matters that are not by this Act or any by-law or resolution specifically reserved to be done by the Board or the Executive Committee.

  • Marginal note:Absence or incapacity

    (2) If the President is absent or unable to act, or if the office of President is vacant, the Board may authorize an officer or employee of the Bank to act as President, but that person may not act as President for a period of more than ninety days without the approval of the Governor in Council.

Marginal note:Officers and employees

 The Bank may employ the officers and employees, and may hire the agents or mandataries, advisers and consultants, it considers necessary to carry out the purpose of this Act and for the proper conduct of its business and the Bank may fix the terms and conditions of their employment or hiring.

  • 1995, c. 28, s. 10;
  • 2011, c. 21, s. 4(E).
Marginal note:Delegation of powers and specification of duties

 The Board may delegate power to, and specify the duties and authority of, any officer, employee or agent or mandatary of the Bank to act in all matters that are not by this Act or any by-law or resolution specifically reserved to be done by the Board or the Executive Committee.

  • 1995, c. 28, s. 11;
  • 2011, c. 21, s. 4(E).
Marginal note:Confidentiality

 All directors, officers and employees of the Bank, and all agents or mandataries, advisers and consultants whose services are engaged by the Bank, must, before commencing their duties, take an oath or make a solemn affirmation of office and confidentiality in the form set out in the schedule before a commissioner of oaths or other person having authority to administer the oath or solemn affirmation in the place where it is taken or made.

  • 1995, c. 28, s. 12;
  • 2011, c. 21, s. 4(E).