In the case of the Canada Foundation for Innovation, the board consists of 15 members. Seven members, including the chair, are GIC appointments. The other eight are appointed by another group of 15 individuals, who are called members and who are analogous, if you will, to the shareholders of a company. They represent the broader public interests; so there are people from the private sector, the academic sector, the non-government sector. So the members appoint the remaining eight board directors.
On May 30th, 2006. See this statement in context.