Hyperlawhypertext legal database Bank Act

← Historical versions

Versions of s. 793

B-1.01 — Bank Act · 2 versions · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

  1. 2006-11-28 to present available View Source
    WhereIf a director or an officer of a bank holding company fails to disclose an interest in a material contract in accordancecomply with any of sections 789 andto 791,792, a court may,court, on the application of the bank holding company or a shareholderany of theits bankshareholders, holding company,may set aside the contract or transaction on suchany terms asthat the court thinks fit.fit and may require the director or officer to account to the bank holding company for any profit or gain realized on it.
    Full text

    If a director or officer of a bank holding company fails to comply with any of sections 789 to 792, a court, on application of the bank holding company or any of its shareholders, may set aside the contract or transaction on any terms that the court thinks fit and may require the director or officer to account to the bank holding company for any profit or gain realized on it.

  2. 2003-01-01 to 2006-11-28 View Source

    Where a director or an officer of a bank holding company fails to disclose an interest in a material contract in accordance with sections 789 and 791, a court may, on the application of the bank holding company or a shareholder of the bank holding company, set aside the contract on such terms as the court thinks fit.