Section 164 — Nominee directors

(1) In addition to the directors elected or
deemed to have been elected by shareholders, a company may have directors
nominated by the company's creditors or other special interests by virtue of
contractual arrangements.

(2) A body corporate or corporation owned or controlled by the Federal
Government or as the case may be, a Provincial Government may also h ave
directors nominated on the b oard to whom such corporation or company has
extended credit facilities.