Document ID: chunk:federal_register_of_legislation:C2004C01070:clause:5_27d
Version: federal_register_of_legislation:C2004C01070
Segment Type: clause
Provision Reference: sch 5 cl 27D
Character Range: 631889–633098

27D  Reliance on information or advice provided by others

  If:
 (a) a director relies on information, or professional or expert advice, given or prepared by:
 (i) an employee of the Commonwealth authority whom the director believes on reasonable grounds to be reliable and competent in relation to the matters concerned; or
 (ii) a professional adviser or expert in relation to matters that the director believes on reasonable grounds to be within the person's professional or expert competence; or
 (iii) another director or officer in relation to matters within the director's or officer's authority; or
 (iv) a committee of directors on which the director did not serve in relation to matters within the committee's authority; and
 (b) the reliance was made:
 (i) in good faith; and
 (ii) after making proper inquiry if the circumstances indicated the need for inquiry; and
 (c) the reasonableness of the director's reliance on the information or advice arises in proceedings brought to determine whether a director has performed a duty under this Division or an equivalent general law duty;
the director's reliance on the information or advice is taken to be reasonable unless the contrary is proved.