Commonwealth Consolidated Acts

CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 265.15

Use of information--directors, other officers and employees

             (1)  A person who obtains information because he or she is, or has been, a director or other officer or employee of an Aboriginal and Torres Strait Islander corporation must not improperly use the information to:

                     (a)  gain an advantage for himself or herself 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 386-1).

Note 3:       Section 265-20 makes special provision for actions done to comply with Native Title legislation obligations.

Note 4:       The contact person for the corporation is covered by the reference to an employee of the corporation.

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

Note 1:       Section 694-55 defines involved in .

Note 2:       This subsection is a civil penalty provision (see section 386-1).