Document ID: chunk:federal_register_of_legislation:C2024C00492:section:6:p68
Version: federal_register_of_legislation:C2024C00492
Segment Type: section
Provision Reference: s 6 (pt 68/175)
Character Range: 343209–346080

business operations of the corporation.

265‑5  Good faith—civil obligations

Good faith—directors and other officers
 (1) A director or other officer of an Aboriginal and Torres Strait Islander corporation must exercise his or her powers and discharge his or her duties:
 (a) in good faith in the best interests of the corporation; and
 (b) for a proper purpose.
Note 1: This subsection is a civil penalty provision (see section 386‑1).
Note 2: Section 265‑20 makes special provision for actions done to comply with Native Title legislation obligations.
Note 3: Section 265‑35 deals with the situation of directors of wholly‑owned subsidiaries.
 (2) A person who is involved in a contravention of subsection (1) contravenes this subsection.
Note 1: Section 694‑55 defines involved in.
Note 2: This subsection is a civil penalty provision (see section 386‑1).

265‑10  Use of position—civil obligations

Use of position—directors, other officers and employees
 (1) A director, secretary, other officer or employee of an Aboriginal and Torres Strait Islander corporation must not improperly use his or her position to:
 (a) gain an advantage for himself or herself or someone else; or
 (b) cause detriment to the corporation.
Note 1: This subsection is a civil penalty provision (see section 386‑1).
Note 2: Section 265‑20 makes special provision for actions done to comply with Native Title legislation obligations.
Note 3: The contact person for the corporation is covered by the reference to an employee of the corporation.
 (2) A person who is involved in a contravention of subsection (1) contravenes this subsection.
Note 1: Section 694‑55 defines involved in.
Note 2: This subsection is a civil penalty provision (see section 386‑1).

265‑15  Use of information—civil obligations

Use of information—directors, other officers and employees
 (1) 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 must not improperly use the information to:
 (a) gain an advantage for himself or herself 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 386‑1).
Note 3: Section 265‑20 makes special provision for actions done to comply with Native Title legislation obligations.
Note 4: The contact person for the corporation is covered by the reference to an employee of the corporation.
 (2) A person who is involved in a contravention of subsection (1) contravenes this subsection.
Note 1: Section 694‑55 defines involved in.
Note 2: This subsection is a civil penalty provision (see section 386‑1).

265‑20  Acts done to comply with Native Title legislation obligations
  A person who is a