Queensland Numbered Acts Queensland Numbered Acts(1) This section applies to an employee of a corporate entity in the exercise of the powers, or discharge of the responsibilities, of an employee of the corporate entity.
(2) The employee must exercise the degree of care and diligence that a reasonable person in a like position in another corporate entity would exercise in the circumstances.
Maximum penalty--100 penalty units.
(3) When deciding the degree of care and diligence that a reasonable person in a like position in another corporate entity would exercise in the circumstances, regard must be had to--
(a) all relevant matters, including for example--
(i) the corporate entity's obligations; and
(ii) any directions or approvals given to the corporate entity by its shareholder; and
(b) any matter prescribed under a regulation.
(4) This section--
(a) applies in addition to, and does not limit, any rule of law relating to the duty or liability of a person because of the person's office in the corporate entity; and
(b) does not prevent civil proceedings being started for a breach of the duty or liability.