Document ID: chunk:federal_register_of_legislation:C2024C00492:section:6:p70
Version: federal_register_of_legislation:C2024C00492
Segment Type: section
Provision Reference: s 6 (pt 70/175)
Character Range: 348352–351132

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
 (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.

265‑30  Interaction of sections 265‑1 to 265‑25 with other laws etc.
 (1) Sections 265‑1 to 265‑25:
 (a) have effect in addition to, and not in derogation of, any rule of law relating to the duty or liability of a person because of the person's office or employment in relation to an Aboriginal and Torres Strait Islander corporation; and
 (b) do not prevent the commencement of civil proceedings for a breach of a duty or in respect of a liability referred to in paragraph (a).
 (2) This section:
 (a) does not apply to subsections 265‑1(2) and (3) to the extent to which they operate on the duties at common law and in equity that are equivalent to the requirements of subsection 265‑1(1); and
 (b) does not apply to section 265‑20 to the extent to which it operates on the duties at common law and in equity that are equivalent to the requirements of subsections 265‑1(1), 265‑5(1), 265‑10(1) and 265‑15(1).

265‑35  Directors of wholly‑owned subsidiaries
  A director of an Aboriginal and Torres Strait Islander corporation that is a wholly‑owned subsidiary of a body corporate is taken to act in good faith in the best interests of the subsidiary if:
 (a) the constitution of the subsidiary expressly authorises the director to act in the best interests of the holding body corporate; and
 (b) the director acts in good faith in the best interests of the holding body corporate; and
 (c) the subsidiary is not insolvent at the time the director acts and does not become insolvent because of the director's act.

265‑40  Responsibility of secretaries for certain contraventions

Responsibilities of secretaries
 (1) A secretary of an Aboriginal and Torres Strait Islander corporation contravenes this subsection if the corporation contravenes any of the following provisions:
 (a) subsection 69‑20(1) or (2) (requirement to lodge copy of constitutional changes);
 (b) section 88‑1 (requirement to lodge material about change of name);
 (c) subsection 112‑5(5), (6) or