Statute
Section 96 — Canada Business Corporations Act: Directors’ powers cease
Text of the provision Official document
If a receiver-manager or sequestrator is appointed by a court or under an instrument or act, the powers of the directors of the corporation that the receiver-manager or sequestrator is authorized to exercise may not be exercised by the directors until the receiver-manager or sequestrator is discharged.
Official source: laws-lois.justice.gc.ca
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