143(1)Despite subsection 15(5), a director of the New Brunswick Power Holding Corporation in office immediately before the commencement of this section, other than the President and Chief Executive Officer, shall, on the commencement of this section, be deemed to be appointed to the board of directors of the Corporation as a director referred to in paragraph 15(2)(b) for a term that is equal to the unexpired portion of his or her term as a director of the New Brunswick Power Holding Corporation and, despite the expiry of his or her term and subject to subsection 15(4), shall remain in office until the director resigns or is reappointed or replaced.

143(2)The Chair of the board of directors of the New Brunswick Power Holding Corporation in office immediately before the commencement of this section shall, on the commencement of this section, be deemed to be appointed as the Chair of the board of directors of the Corporation for a term that is equal to the unexpired portion of his or her term as Chair of the board of directors of the New Brunswick Power Holding Corporation and, despite the expiry of his or her term and subject to subsection 16(6), shall remain in office until he or she resigns or is reappointed or replaced.

143(3)The Vice-Chair of the board of directors of the New Brunswick Power Holding Corporation in office immediately before the commencement of this section shall, on the commencement of this section, be deemed to be appointed as the Vice-Chair of the board of directors of the Corporation for a term that is equal to the unexpired portion of his or her term as Vice-Chair of the board of directors of the New Brunswick Power Holding Corporation and, despite the expiry of his or her term and subject to subsection 16(6), shall remain in office until he or she resigns or is reappointed or replaced.

143(4)Despite subsection 23(2), the President and Chief Executive Officer of the New Brunswick Power Holding Corporation in office immediately before the commencement of this section shall, on the commencement of this section, be deemed to be appointed as the President and Chief Executive Officer of the Corporation for a term that is equal to the unexpired portion of his or her term as President and Chief Executive Officer of the New Brunswick Power Holding Corporation and, despite the expiry of his or her term and subject to subsections 23(10) and (11), shall remain in office until he or she resigns or is reappointed or replaced.

143(5)On the commencement of this section, the appointments of the members of the board of directors of the New Brunswick Power Generation Corporation holding office immediately before the commencement of this section are revoked.

143(6) No action or other proceeding lies or shall be instituted against the Minister, the Crown or the Corporation as a result of the revocation of appointments under subsection (5).

143(7)No action or other proceeding lies or shall be instituted against the Minister, the Crown or the Corporation as a consequence of any person ceasing to hold a board of directors position in an amalgamating corporation as a result of the amalgamation under subsection 3(1).

143(1)Despite subsection 15(5), a director of the New Brunswick Power Holding Corporation in office immediately before the commencement of this section, other than the President and Chief Executive Officer, shall, on the commencement of this section, be deemed to be appointed to the board of directors of the Corporation as a director referred to in paragraph 15(2)(b) for a term that is equal to the unexpired portion of his or her term as a director of the New Brunswick Power Holding Corporation and, despite the expiry of his or her term and subject to subsection 15(4), shall remain in office until the director resigns or is reappointed or replaced.

143(2)The Chair of the board of directors of the New Brunswick Power Holding Corporation in office immediately before the commencement of this section shall, on the commencement of this section, be deemed to be appointed as the Chair of the board of directors of the Corporation for a term that is equal to the unexpired portion of his or her term as Chair of the board of directors of the New Brunswick Power Holding Corporation and, despite the expiry of his or her term and subject to subsection 16(6), shall remain in office until he or she resigns or is reappointed or replaced.

143(3)The Vice-Chair of the board of directors of the New Brunswick Power Holding Corporation in office immediately before the commencement of this section shall, on the commencement of this section, be deemed to be appointed as the Vice-Chair of the board of directors of the Corporation for a term that is equal to the unexpired portion of his or her term as Vice-Chair of the board of directors of the New Brunswick Power Holding Corporation and, despite the expiry of his or her term and subject to subsection 16(6), shall remain in office until he or she resigns or is reappointed or replaced.

143(4)Despite subsection 23(2), the President and Chief Executive Officer of the New Brunswick Power Holding Corporation in office immediately before the commencement of this section shall, on the commencement of this section, be deemed to be appointed as the President and Chief Executive Officer of the Corporation for a term that is equal to the unexpired portion of his or her term as President and Chief Executive Officer of the New Brunswick Power Holding Corporation and, despite the expiry of his or her term and subject to subsections 23(10) and (11), shall remain in office until he or she resigns or is reappointed or replaced.

143(5)On the commencement of this section, the appointments of the members of the board of directors of the New Brunswick Power Generation Corporation holding office immediately before the commencement of this section are revoked.

143(6) No action or other proceeding lies or shall be instituted against the Minister, the Crown or the Corporation as a result of the revocation of appointments under subsection (5).

143(7)No action or other proceeding lies or shall be instituted against the Minister, the Crown or the Corporation as a consequence of any person ceasing to hold a board of directors position in an amalgamating corporation as a result of the amalgamation under subsection 3(1).