Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 183

Use of information--directors, other officers and employees

  (1)   A person who obtains information because they are, or have been, a director or other officer or employee of a corporation must not improperly use the information to:

  (a)   gain an advantage for themselves or someone else; or

  (b)   cause detriment to the corporation.

Note 1:   This duty continues after the person stops being an officer or employee of the corporation.

Note 2:   This subsection is a civil penalty provision (see section   1317E).

  (2)   A person who is involved in a contravention of subsection   (1) contravenes this subsection.

Note 1:   Section   79 defines involved .

Note 2:   This subsection is a civil penalty provision (see section   1317E).