R.R.O. 1990, Reg. 899: COMPOSITION AND PROCEDURES OF CORPORATION"

R.R.O. 1990, Reg. 899: COMPOSITION AND PROCEDURES OF CORPORATION, Ontario Telephone Development Corporation Act, R.S.O. 1990, c. O.37

Ontario Telephone Development Corporation Act
Loi sur la Société de développement des réseaux téléphoniques de l’Ontario

REGULATION 899

No Amendments

COMPOSITION AND PROCEDURES OF CORPORATION

Note: This Regulation became spent some time before January 1, 2004.

This Regulation is made in English only.

1. In this Regulation,

“board of directors” means the board of directors of the Corporation. R.R.O. 1990, Reg. 899, s. 1.

Composition of Corporation

2. The Corporation shall be composed of three members. R.R.O. 1990, Reg. 899, s. 2.

Meetings of the Board of Directors

3. Meetings of the board of directors may be called at any time by the chair or, in the chair’s absence, by the vice-chair. R.R.O. 1990, Reg. 899, s. 3.

4. Notice of all meetings of the board of directors shall be delivered to the office of each member of the board at least twenty-four hours before the meeting, but no notice is necessary when all members of the board, either before or after the meeting, sign a waiver of notice. R.R.O. 1990, Reg. 899, s. 4.

5. Two directors constitute a quorum at any meeting of the board of directors. R.R.O. 1990, Reg. 899, s. 5.

Records

6. The board of directors shall cause the secretary, or some other official of the Corporation charged with that duty, to keep a book or books in which shall be recorded,

(a) a copy of the Ontario Telephone Development Corporation Act, any amendments thereto and a copy of the regulations made thereunder;

(b) a copy of all orders in council relating to the Corporation;

(c) the names of all members of the board of directors and the dates on which each became and ceased to be a member of the board; and

(d) the minutes of all meetings and votes of the board of directors, verified by the signature of the chair or vice-chair. R.R.O. 1990, Reg. 899, s. 6.

7. The board of directors shall cause to be kept proper books of account containing full and true statements of,

(a) the financial transactions of the Corporation;

(b) the assets of the Corporation;

(c) the money received and expended by the Corporation and the matters in respect of which the receipt and expenditure took place; and

(d) the credits and liabilities of the Corporation. R.R.O. 1990, Reg. 899, s. 7.

Fiscal Year

8. The fiscal year of the Corporation terminates on the 31st day of March in each year. R.R.O. 1990, Reg. 899, s. 8.

Execution of Documents

9. All cheques, notes and orders for the payment of money shall be signed by two directors. R.R.O. 1990, Reg. 899, s. 9.

10. Contracts, documents or instruments in writing requiring execution by the Corporation may be signed by two directors, or the board of directors by resolution may appoint any official or person on behalf of the Corporation to sign contracts, documents and instruments in writing. R.R.O. 1990, Reg. 899, s. 10.

Seal

11. The seal of the Corporation shall be in the form of two concentric circles with the words “The Ontario Telephone Development Corporation” inserted in the space between the circles, and when used shall be authenticated as provided by section 10. R.R.O. 1990, Reg. 899, s. 11.