7(1)The chair and other members of the Board are entitled to be paid such salaries and allowances as are fixed by the by-laws of the Corporation.

7(2)Each member of the Board is entitled to be paid such travelling and living expenses incurred by the member in the performance of his or her duties as are fixed by the by-laws of the Corporation.

7(3)Despite subsections (1) and (2), no by-law of the Corporation fixing salary, allowances or expenses is of any effect unless it has been approved by the Lieutenant-Governor in Council.