Western Australian Current Acts Western Australian Current Acts (1) A director, chief
executive officer or executive officer of a GTE must at all times act honestly
in the performance of the functions of their office.
(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.