South Australian Consolidated Acts South Australian Consolidated Acts44—Duties and liabilities of officers and employees
(1) An officer of a
registered housing co-operative must at all times act honestly in the exercise
of the powers and the discharge of the duties of his or her office.
Maximum penalty:
(a) If
the offence was committed with intent to deceive or defraud—$20 000
or imprisonment for 4 years;
(b) In
any other case—$5 000 or imprisonment for 1 year.
(2) An officer of a
registered housing co-operative must at all times exercise a reasonable degree
of care and diligence in the exercise of the powers and the discharge of the
duties of his or her office.
Maximum penalty: $5 000.
(3) An officer or
employee of a registered housing co-operative, or a former officer or employee
of a registered housing co-operative, must not make improper use of
information acquired by virtue of his or her position as such an officer or
employee to gain, directly or indirectly, an advantage for himself or herself
or for any other person, or to cause detriment to the co-operative.
Maximum penalty: $20 000 or imprisonment for 4 years.
(4) An officer or
employee of a registered housing co-operative must not make improper use of
his or her position as such an officer or employee, to gain, directly or
indirectly, an advantage for himself or herself or for any other person, or to
cause detriment to the co-operative.
Maximum penalty: $20 000 or imprisonment for 4 years.
(5) Where—
(a) a
person is convicted of an offence against this section; and
(b) the
court by which the person is convicted is satisfied that the co-operative has
suffered loss or damage as a result of the act or omission that constituted
the offence,
the court may, in addition to imposing a penalty under this section—
(c)
order the convicted person to pay compensation to the co-operative of such
amount as the court specifies;
(d)
order the convicted person to undertake, in accordance with the terms of the
order, specified work for the benefit of the co-operative.
(6) Where a person
contravenes or fails to comply with a provision of this section in relation to
a co-operative, the co-operative may, whether or not the person has been
convicted of an offence against this section in relation to that contravention
or failure, recover from the person as a debt due to the co-operative by
action in a court of competent jurisdiction—
(a) if
that person or any other person made a profit as a result of the contravention
or failure—an amount equal to that profit; and
(b) if
the co-operative has suffered loss or damage as a result of the contravention
or failure—an amount equal to that loss or damage.
(7) This section is in
addition to and does not derogate from any other rule of law relating to the
duties of directors and officers of bodies corporate.