Canada Mortgage and Housing Corporation Act

Marginal note:Board to manage affairs of Corporation

• 10 (1) The Board shall manage the affairs of the Corporation and conduct its business and may for such purposes exercise all powers of the Corporation.

• Marginal note:Voting

  (2) Each director has one vote in the transaction of the business of the Board and if the number of votes is equally divided the Chairman of the Board has an additional vote.

• Marginal note:By-laws

  (3) The Board may make by-laws with respect to

  • (a) the calling of meetings of the Board and of the Executive Committee, the number of persons that shall constitute a quorum in each case, and the manner in which questions considered at such meetings shall be determined; and

  • (b) the conduct of the affairs of the Corporation.

• Marginal note:By-laws

  (4) For greater certainty, all by-laws relating to the pension fund referred to in subsection 13(3) are deemed to be or to have been by-laws made with respect to the conduct of the affairs of the Corporation.