South Australian Current Acts

CRIMINAL LAW CONSOLIDATION ACT 1935 - SECT 148

148—Unlawful bias

        (1)         A fiduciary exercises an unlawful bias if—

            (a)         the fiduciary—

                  (i)         has received or expects to receive a benefit from a third party for exercising a fiduciary function in a particular way; and

                  (ii)         exercises a fiduciary function in the relevant way without appropriate disclosure of the benefit or expected benefit; and

            (b)         the fiduciary's failure to make appropriate disclosure of the benefit or expected benefit is intentional or reckless.

        (2)         A fiduciary makes appropriate disclosure of a benefit or expected benefit if the fiduciary discloses to the principal—

            (a)         the nature and value (or approximate value) of the benefit; and

            (b)         the identity of the third party from whom the benefit has been, or is to be, received.