Requirements to be a director
63(1)The following persons are disqualified from being a director of a corporation:
anyone who is less than nineteen years of age;
anyone who has been found incapable of managing their affairs by a court or tribunal in Canada or elsewhere;
a person who is not an individual, unless the person is a body corporate that meets the requirements of subsection (1.1);
a person who has the status of bankrupt; or
a person convicted of an offence under the
Criminal Code (Canada) or the criminal law of any jurisdiction outside of Canada
in connection with the promotion, formation or management of a corporation, or
unless three years have elapsed since the expiration of the period fixed for suspension of the passing of sentence without sentencing or since a fine was imposed, or unless the term of imprisonment and probation imposed if any, was concluded, whichever is the latest, but the disability imposed by this paragraph ceases upon a pardon being granted.
63(2)Unless the articles otherwise provide, a director of a corporation is not required to hold shares issued by the corporation.
63(3)A person who is elected or appointed a director is not a director unless
he was present at the meeting when he was elected or appointed and did not refuse to act as a director, or
if he was not present at the meeting when he was elected or appointed,
he consented to act as a director in writing before his election or appointment or within ten days thereafter, or
he has acted as a director pursuant to the election or appointment.
1983, c.15, s.11; 2023, c.2, s.46; 2023, c.2, s.155