Financial Administration Act

Marginal note:Remuneration

• 108 (1) The rate of any remuneration paid to a director, chairman or chief executive officer of a parent Crown corporation for his services in respect of that office and, in the case of a chairman or chief executive officer, any other office of the corporation or an affiliate thereof shall be fixed by the Governor in Council.

• Marginal note:Other benefits

  (2) Any benefits, other than remuneration, provided to a director, chairman or chief executive officer of a parent Crown corporation for his services in respect of that office and, in the case of a chairman or chief executive officer, any other office of the corporation or an affiliate thereof shall be fixed by the board of directors of the corporation in accordance with the regulations.

• Marginal note:Wholly-owned subsidiary

  (2.1) The rate of any remuneration paid to a director, chairman or chief executive officer of a wholly-owned subsidiary who is not also an officer-director of the parent Crown corporation for the director’s, chairman’s or officer’s services in respect of that subsidiary shall be fixed by the board of directors of the parent Crown corporation.

• Marginal note:Regulations

  (3) For the purposes of this section, the Governor in Council may make regulations

  • (a) defining the term remuneration; and

  • (b) respecting the provision and fixing of benefits, other than remuneration, to or for any director, chairman or chief executive officer.