Corporations (Aboriginal and Torres Strait Islander) Act 2006
Good faith - directors and other officers
265-25(1)
A director or other officer of an Aboriginal and Torres Strait Islander corporation commits an offence if he or she: (a) is reckless; or (b) is intentionally dishonest;
and fails to exercise his or her powers and discharge his or her duties:
(c) in good faith in the best interests of the corporation; or (d) for a proper purpose.Penalty: 2,000 penalty units or imprisonment for 5 years, or both.
265-25(2)
A director or other officer of an Aboriginal and Torres Strait Islander corporation that is a registered native title body corporate does not contravene subsection (1) merely because of doing (or refraining from doing) a particular act if the director or other officer does (or refrains from doing) the act: (a) in good faith; and (b) with the belief that doing (or refraining from doing) the act is necessary to ensure that the corporation complies with a Native Title legislation obligation.
Note :
A defendant bears an evidential burden in relation to the matters in subsection (2) (see subsection 13.3(3) of the Criminal Code ).
Use of position - directors, other officers and employees
265-25(3)
A director, other officer or employee of an Aboriginal and Torres Strait Islander corporation commits an offence if he or she uses his or her position dishonestly: (a) with the intention of directly or indirectly gaining an advantage for himself or herself, or someone else, or causing detriment to the corporation; or (b) recklessly as to whether the use may result in him or her or someone else directly or indirectly gaining an advantage, or in causing detriment to the corporation.
Penalty: 2,000 penalty units or imprisonment for 5 years, or both.
Use of information - directors, other officers and employees
265-25(4)
A person who obtains information because he or she is, or has been, a director or other officer or employee of an Aboriginal and Torres Strait Islander corporation commits an offence if he or she uses the information dishonestly: (a) with the intention of directly or indirectly gaining an advantage for himself or herself, or someone else, or causing detriment to the corporation; or (b) recklessly as to whether the use may result in him or her or someone else directly or indirectly gaining an advantage, or in causing detriment to the corporation.
Penalty: 2,000 penalty units or imprisonment for 5 years, or both.
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