Document ID: chunk:federal_register_of_legislation:C2004C01070:clause:1_190
Version: federal_register_of_legislation:C2004C01070
Segment Type: clause
Provision Reference: sch 1 cl 190
Character Range: 18087–18963

190  Responsibility for actions of delegate

 (1) If the directors delegate a power under section 198D, a director is responsible for the exercise of the power by the delegate as if the power had been exercised by the directors themselves.

 (2) A director is not responsible under subsection (1) if:
 (a) the director believed on reasonable grounds at all times that the delegate would exercise the power in conformity with the duties imposed on directors of the company by this Law and the company's constitution (if any); and
 (b) the director believed:
 (i) on reasonable grounds; and
 (ii) in good faith; and
 (iii) after making proper inquiry if the circumstances indicated the need for inquiry;
  that the delegate was reliable and competent in relation to the power delegated.

Division 2—Disclosure of, and voting on matters involving, material personal interests