Section 116

The removal of an officer or director under paragraph 113(1)(B)

or subparagraph 113(1)(C)(i) shall be lawful notwithstanding anything contained in any contract of service or other contract or agreement, whether express or implied, whether individual or collective, and whether or not made or provided for under any written law, and a person so removed from office shall not be entitled to claim any compensation for the loss or termination of office.

Provisions in relation to assumption of control under section 113 or 114