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The SAC was established in 1996 on a voluntary basis and was formalized in the Canadian Payments Act in 2001. [12] The SAC provides advice to the Payments Canada Board of Directors on payment, clearing, and settlement matters, and contributes input on proposed initiatives, including by-laws, policy statements, and rules that affect third parties.
In the United States, prompt payment of federal government supplier debts is enshrined in Title 31 of the United States Code, chapter 39 being known as the 'Prompt Payment Act'. The California Legislature has implemented a comprehensive series of laws known as the 'prompt payment statutes'.
A detailed examination of the Court's language [in BCE Inc. v. 1976 Debentureholders] reveals that the duty of directors in Canada to 'act honestly and in good faith with a view to the best interests of the corporation' is an implied three-part fiduciary duty, which operationalizes the principle of fair treatment. [42]
The Financial Administration Act (French: Loi sur la gestion des finances publiques) ('The Act') is legislation enacted by the Parliament of Canada, governing financial administration of the government, public assets, the estimates process, the Department of Finance, the Treasury Board of Canada and Crown Corporations.
The last edition of the RSO was dated 1990 pursuant to the Statutes Revision Act, 1989, consolidating the statutes in force prior to January 1, 1991. [3] More recently, acts have been consolidated on the e-Laws website, organized by reference to their existing citations in the Statutes of Ontario or Revised Statutes of Ontario. [4]
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Center for Interfaith Relations Board of Directors meeting. A board of directors is a governing body that supervises the activities of a business, a nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law ...
Bourinot's Rules of Order is a Canadian parliamentary authority originally published in 1894 by (the younger) Sir John George Bourinot, Clerk of the House of Commons of Canada under the title A Canadian Manual on the Procedure at Meetings of Shareholders and Directors of Companies, Conventions, Societies, and Public Assemblies generally.