Commonwealth Numbered Acts

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FUTURE FUND ACT 2006 (NO. 12, 2006) - SECT 65

Reliance on information or advice provided by others

                   If:

                     (a)  a Board member relies on information, or professional or expert advice, given or prepared by:

                              (i)  a member of the staff of the Agency whom the Board member believes on reasonable grounds to be reliable and competent in relation to the matters concerned; or

                             (ii)  a professional adviser or expert in relation to matters that the Board member believes on reasonable grounds to be within the person’s professional or expert competence; or

                            (iii)  another Board member in relation to matters within the Board member’s authority; or

                            (iv)  a committee of Board members on which the Board member did not serve in relation to matters within the committee’s authority; and

                     (b)  the reliance was made:

                              (i)  in good faith; and

                             (ii)  after making proper inquiry if the circumstances indicated the need for inquiry; and

                     (c)  the reasonableness of the Board member’s reliance on the information or advice arises in proceedings brought to determine whether a Board member has performed a duty under this Division, or an equivalent general law duty;

the Board member’s reliance on the information or advice is taken to be reasonable unless the contrary is proved.



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