Western Australian Current Acts

GOVERNMENT TRADING ENTERPRISES ACT 2023 - SECT 64

64 .         Disclosure of material personal interests

        (1)         If a GTE’s chief executive officer has a material personal interest in a matter that relates to the GTE’s affairs, the chief executive officer must, as soon as practicable after the relevant facts become known to the chief executive officer —

            (a)         disclose the nature and extent of the interest to the GTE’s board; and

            (b)         not take action or further action in relation to the matter unless authorised to do so by the GTE’s board.

        Penalty for this subsection: a fine of $10 000.

        (2)         The board’s authorisation may be subject to conditions and restrictions.

        (3)         If the chief executive officer is unable to act in relation to a matter, the board may appoint a member of staff to act in relation to the matter.