14.By-laws
CNCA - by-laws no longer required to be approved by Industry Canada, but must be filed with Industry Canada within 12 months, but failure to file will not affect validity
ONCA - no need to file by-laws with the Ministry
Default by-law will apply if no by-law adopted
15.Audit Committee
Special rules about committee members, right of public accountant to attend or call committee meetings
e.g. Majority of committee members must
not be officers or employees of the
corporation or of any of its affiliates