Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If it is necessary to establish that a body corporate has actual or constructive knowledge of a particular circumstance, it is sufficient to show:
(a) that a director, employee or agent of the body corporate, being a director, employee or agent who is responsible for acting on behalf of the body corporate in relation to such a circumstance, had that knowledge; or
(b) that both of the following apply:
(i) the circumstance is communicated to a director, employee or agent of the body corporate;
(ii) if the director, employee or agent had exercised reasonable care, the circumstance would have been brought to the attention of a director, employee or agent of the body corporate who is responsible for acting on behalf of the body corporate in relation to such a circumstance.
(2) If it is necessary to establish that a person other than a body corporate has actual or constructive knowledge of a particular circumstance, it is sufficient to show:
(a) that an employee or agent of the person, being an employee or agent who is responsible for acting on behalf of the person in relation to such a circumstance, had that knowledge; or
(b) that both of the following apply:
(i) the circumstance is communicated to an employee or agent of the person;
(ii) if the employee or agent had exercised reasonable care, the circumstance would have been brought to the attention of an employee or agent of the person who is responsible for acting on behalf of the person in relation to such a circumstance.
(3) Paragraphs (1)(b) and (2)(b) do not require a person to bring information to the attention of another person unless:
(a) doing so is part of the person's regular duties; or
(b) the person has reason to know both of the following:
(i) the transaction to which the circumstance relates;
(ii) that the transaction would be materially affected by the information.