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Glossary of Terms

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Quebec - Corporations Act

The Act which sets out the legal and regulatory framework for all businesses incorporated in the Province of Quebec.

Quorum

The fixed minimum number of people entitled to attend a meeting who must be present for business to be conducted. Corporate by-laws may specify the minimum number of directors who must be present at a meeting of the board of directors or the minimum number of shareholders who must be present at a shareholders' meeting. If the by-laws do not set out the rules for a quorum, they are normally set out in corporate legislation.

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