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29 (1) In this section, “court” means the Supreme Court.

  • (2) On an application by the Authority or by a director or senior officer, the court may, if it determines that a contract or transaction in which a director or senior officer has a disclosable interest was fair and reasonable to the Authority,
  • (a) order that the director or senior officer is not liable to account for any profit that accrues to the director or senior officer under or as a result of the contract or transaction, and
  • (b) make any other order that the court considers appropriate.
  • (3) Unless a contract or transaction in which a director or senior officer has a disclosable interest has been approved in accordance with section 28(2), the court may, on an application by the Authority or by a director or senior officer, make one or more of the following orders if the court determines that the contract or transaction was not fair and reasonable to the Authority:
  • (a) enjoin the Authority from entering into the proposed contract or transaction;
  • (b) order that the director or senior officer is liable to account for any profit that accrues to the director or senior officer under or as a result of the contract or transaction;
  • (c) make any other order that the court considers appropriate.

2004-66-29, effective November 19, 2004 (B.C. Reg. 496/2004).