Commonwealth Numbered Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

FINANCIAL ACCOUNTABILITY REGIME ACT 2023 (NO. 67, 2023) - SECT 102

Protection from liability--directions and secrecy

             (1)  An action, suit or proceeding (whether criminal or civil) does not lie against a person in relation to anything done, or omitted to be done, in good faith by the person if:

                     (a)  the person does the thing, or omits to do the thing, for the purpose of any of the following:

                              (i)  complying with a direction under this Act given by the Regulator to an accountable entity;

                             (ii)  complying with subsection 68(1), 92(2) or 94(5) in relation to a direction under this Act given by the Regulator to an accountable entity; and

                     (b)  it is reasonable for the person to do the thing, or to omit to do the thing, in order to achieve that purpose; and

                     (c)  the person is any of the following:

                              (i)  an officer or senior manager of the accountable entity, or of a member of the accountable entity's relevant group;

                             (ii)  an employee or agent of the accountable entity, or of a member of the accountable entity's relevant group;

                            (iii)  the accountable entity or a member of the accountable entity's relevant group.

Note:          For the definition of relevant group , see section 8.

             (2)  For the purposes of paragraph (1)(b), treat it as reasonable for a person to do a thing, or to omit to do a thing, in order to achieve a purpose unless no reasonable person in that person's position would do the thing, or omit to do the thing, in order to achieve that purpose.

             (3)  In this section:

"employee " of an accountable entity, or of a member of an accountable entity's relevant group, includes a person engaged to provide advice or services to the accountable entity or member.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback