Good faith--directors and other officers
(1) A director or other officer of an Aboriginal and Torres Strait Islander corporation must exercise his or her powers and discharge his or her duties:
(a) in good faith in the best interests of the corporation; and
Note 1: This subsection is a civil penalty provision (see section 386 - 1).
Note 2: Section 265 - 20 makes special provision for actions done to comply with Native Title legislation obligations.
Note 3: Section 265 - 35 deals with the situation of directors of wholly - owned subsidiaries.
(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).