Victorian Consolidated Legislation

State Owned Enterprises Act 1992 - SECT 36

Duties of directors

36. Duties of directors



(1) A director of a State business corporation must at all times act honestly
in the performance of the functions of his or her office, whether within or
outside the State.

(2) A director must at all times exercise a reasonable degree of care and
diligence in the performance of his or her functions, whether within or
outside the State.



(3) A director, or former director, must not, whether within or outside the
State, make improper use of information acquired by virtue of his or her
position as a director to gain, directly or indirectly, an advantage for
himself or herself or for any other person or to cause detriment to the State
business corporation.

(4) A director must not, whether within or outside the State, make improper
use of his or her position as a director to gain, directly or indirectly, an
advantage for himself or herself or for any other person or to cause detriment
to the State business corporation.

(5) This section has effect in addition to, and not in derogation of, any Act
or law relating to the criminal or civil liability of a member of the
governing body of a corporation and does not prevent the institution of any
criminal or civil proceedings in respect of such a liability.