Trust and Loan Companies Act

Marginal note:Disqualified persons

164 The following persons are disqualified from being directors of a company:

• (a) a person who is less than eighteen years of age;

• (b) a person who is of unsound mind and has been so found by a court in Canada or elsewhere;

• (c) a person who has the status of a bankrupt;

• (d) a person who is not a natural person;

• (e) a person who is prohibited by section 386 or 399 from exercising voting rights attached to shares of the company or whose voting rights attached to the shares are suspended under section 401.1 or subsection 527.5(4);

• (f) a person who is an officer, director or full time employee of an entity that is prohibited by section 386 or 399 from exercising voting rights attached to shares of the company or whose voting rights attached to the shares are suspended under section 401.1 or subsection 527.5(4);

• (f.1) a person who is an officer, director, employee or agent of — or any other person acting on behalf of — an eligible agent within the meaning of section 374.1;

• (g) [Repealed, 2013, c. 40, s. 160]

• (h) a minister of Her Majesty in right of Canada or in right of a province; and

• (i) a person who is an agent or employee of the government of a foreign country or any political subdivision thereof.