Acts and Regulations

B-9.1 - Business Corporations Act

Section 79
Disposition versions

Full text
Duty of care of directors and officers
79(1)Every director and officer of a corporation in exercising his powers and discharging his duties shall
(a) act honestly and in good faith, and
(b) exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances
in the best interests of the corporation.
79(2)Every director and officer of a corporation shall comply with this Act, the regulations, articles, by-laws and a unanimous shareholder agreement.
79(3)Subject to subsection 99(5), no provision in a contract, the articles, the by-laws or a resolution relieves a director or officer from the duty to act in accordance with this Act or the regulations or relieves him from liability for a breach thereof.
2023, c.2, s.155
Duty of care of directors and officers
79(1)Every director and officer of a corporation in exercising his powers and discharging his duties shall
(a) act honestly and in good faith, and
(b) exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances
in the best interests of the corporation.
79(2)Every director and officer of a corporation shall comply with this Act, the regulations, articles, by-laws and a unanimous shareholder agreement.
79(3)Subject to subsection 99(5), no provision in a contract, the articles, the by-laws or a resolution relieves a director or officer from the duty to act in accordance with this Act or the regulations or relieves him from liability for a breach thereof.
Duty of care of directors and officers
79(1)Every director and officer of a corporation in exercising his powers and discharging his duties shall
(a) act honestly and in good faith, and
(b) exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances
in the best interests of the corporation.
79(2)Every director and officer of a corporation shall comply with this Act, the regulations, articles, by-laws and a unanimous shareholder agreement.
79(3)Subject to subsection 99(5), no provision in a contract, the articles, the by-laws or a resolution relieves a director or officer from the duty to act in accordance with this Act or the regulations or relieves him from liability for a breach thereof.