Corporations (Aboriginal and Torres Strait Islander) Act 2006

CHAPTER 6 - OFFICERS  

PART 6-4 - DUTIES AND POWERS OF DIRECTORS AND OTHER OFFICERS AND EMPLOYEES  

Division 268 - Duties in relation to disclosure of, and voting on matters involving, material personal interests  

SECTION 268-5   INTEREST AS COMMON LAW HOLDER OF NATIVE TITLE  

268-5(1)    
This section applies if:

(a)    an Aboriginal and Torres Strait Islander corporation is a registered native title body corporate; and

(b)    a director of the corporation has a particular interest as one of the common law holders of native title, being native title:


(i) which the corporation holds in trust for the common law holders of the native title; or

(ii) for which the corporation acts as agent or representative for the common law holders of the native title.

268-5(2)    
The director does not need to give the other directors notice of the interest under subsection 268-1(1) .

268-5(3)    
A failure to give the other directors notice of the interest does not breach any general law rule about conflicts of interest.

 

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