Examples of NI 58-101 in a sentence
NI 58-101 suggests that the board of directors of a public company should be constituted with a majority of individuals who qualify as “independent” directors.
In addition, where a company has a significant shareholder, NI 58-101 suggests that a board of directors should include a number of directors who do not have interests in either the company or the significant shareholder.
It shall be an objective that at least a majority of the directors shall be independent as determined in accordance with NI 58-101, and if at any time less than a majority of directors are independent, the Board shall consider possible steps and processes to facilitate its exercise of independent judgement in carrying out its responsibilities.
The attendance record of individual directors will be disclosed in the Corporation’s proxy circular as required by NI 58-101.
All of the members of the CNHR Committee are independent according to the definition of “independence” set out in NI 58-101.