Western Australian Current Acts

GOVERNMENT TRADING ENTERPRISES ACT 2023 - SECT 45

45 .         Fiduciary relationship with, and duties to, GTE

        (1)         A GTE’s directors and chief executive officer each have —

            (a)         the same fiduciary relationship with the GTE as a director of a company incorporated under the Corporations Act has with the company; and

            (b)         the same duties to the GTE to act with loyalty and in good faith, in advancing the purpose of the GTE, as a director of a company incorporated under the Corporations Act has to the company.

        (2)         The duties of a GTE’s directors under subsection (1) are enforceable by the GTE Minister or the Portfolio Minister and not otherwise.

        (3)         The duties of a GTE’s chief executive officer under subsection (1) are enforceable by the GTE’s board and not otherwise.

        (4)         The duties under sections 46 to 51 are in addition to those under subsection (1).