Document ID: chunk:federal_register_of_legislation:C2004C01070:clause:1_183
Version: federal_register_of_legislation:C2004C01070
Segment Type: clause
Provision Reference: sch 1 cl 183
Character Range: 11752–12514

183  Use of information—civil obligations

Use of information—directors, other officers and employees

 (1) 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).

 (2) 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).