Commonwealth Consolidated Acts Commonwealth Consolidated ActsGood faith--directors and other officers
(1) A director or other officer of an Aboriginal and Torres Strait Islander corporation commits an offence if he or she:
(a) is reckless; or
(b) is intentionally dishonest;
and fails to exercise his or her powers and discharge his or her duties:
(c) in good faith in the best interests of the corporation; or
(d) for a proper purpose.
Penalty: 2,000 penalty units or imprisonment for 5 years, or both.
(2) A director or other officer of an Aboriginal and Torres Strait Islander corporation that is a registered native title body corporate does not contravene subsection (1) merely because of doing (or refraining from doing) a particular act if the director or other officer does (or refrains from doing) the act:
(a) in good faith; and
(b) with the belief that doing (or refraining from doing) the act is necessary to ensure that the corporation complies with a Native Title legislation obligation.
Note: A defendant bears an evidential burden in relation to the matters in subsection (2) (see subsection 13.3(3) of the Criminal Code ).
Use of position--directors, other officers and employees
(3) A director, other officer or employee of an Aboriginal and Torres Strait Islander corporation commits an offence if he or she uses his or her position dishonestly:
(a) with the intention of directly or indirectly gaining an advantage for himself or herself, or someone else, or causing detriment to the corporation; or
(b) recklessly as to whether the use may result in him or her or someone else directly or indirectly gaining an advantage, or in causing detriment to the corporation.
Penalty: 2,000 penalty units or imprisonment for 5 years, or both.
Use of information--directors, other officers and employees
(4) 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 commits an offence if he or she uses the information dishonestly:
(a) with the intention of directly or indirectly gaining an advantage for himself or herself, or someone else, or causing detriment to the corporation; or
(b) recklessly as to whether the use may result in him or her or someone else directly or indirectly gaining an advantage, or in causing detriment to the corporation.
Penalty: 2,000 penalty units or imprisonment for 5 years, or both.