(1) The board of directors may, in accordance with the by-laws,
(a) delegate any of its powers to a committee of the board or to one or more directors; and
(b) delegate any of its powers to manage the business and affairs of the Corporation to one or more officers of the Corporation. 2011, c. 9, Sched. 32, s. 14 (1).
Terms, conditions and restrictions
(2) A delegation under subsection (1) is subject to any terms, conditions and restrictions set out in the delegation. 2011, c. 9, Sched. 32, s. 14 (2).
Same
(3) A delegation under subsection (1) may be general or specific. 2011, c. 9, Sched. 32, s. 14 (3).
Exceptions
(4) The board cannot delegate its power to make by-laws or to approve the financial statements or the annual report of the Corporation. 2011, c. 9, Sched. 32, s. 14 (4).