THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW

THE CORPORATIONS LAW   82 

The Corporations Law is as follows:...

CHAPTER 2D - OFFICERS AND EMPLOYEES

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History

Chapter 2D substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).

PART 2D.1 - DUTIES AND POWERS

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History

Part 2D.1 substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).

Division 1 - General duties

SECTION 183   USE OF INFORMATION - CIVIL OBLIGATIONS  

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183(1)  Use of information - directors, other officers and employees.  

A person who obtains information because they are, or have been, a director or other officer or employee of a corporation must not improperly use the information to:

(a)  gain an advantage for themselves or someone else; or

(b)  cause detriment to the corporation.

Note 1:

This duty continues after the person stops being an officer or employee of the corporation.

Note 2: This subsection is a civil penalty provision (see section 1317E).

183(2)  [Involvement]  

A person who is involved in a contravention of subsection (1) contravenes this subsection.

Note 1:

Section 79 defines involved .

Note 2: This subsection is a civil penalty provision (see section 1317E).

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History

S 183 inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).

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