Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 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).



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