Western Australian Current Acts

GOVERNMENT TRADING ENTERPRISES ACT 2023 - SECT 47

47 .         Good faith and proper purpose

        (1)         A director or chief executive officer of a GTE must perform the functions of their office —

            (a)         in good faith in the best interests of the GTE; and

            (b)         for a proper purpose.

        (2)         A person commits an offence if they contravene subsection (1).

        Penalty for this subsection: a fine of $5 000.

        (3)         A person commits a crime if they contravene subsection (1) —

            (a)         with intent to deceive or defraud the GTE, its creditors or creditors of any other person; or

            (b)         for any other fraudulent purpose.

        Penalty for this subsection: imprisonment for 5 years and a fine of $20 000.

        Summary conviction penalty for this subsection: imprisonment for 3 years and a fine of $12 000.