THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82
The Corporations Law is as follows:...

SECTION 182 USE OF POSITION - CIVIL OBLIGATIONS

182(1) Use of position - directors, other officers and employees.

A director, secretary, other officer or employee of a corporation must not improperly use their position to:

(a) gain an advantage for themselves or someone else; or

(b) cause detriment to the corporation.

This subsection is a civil penalty provision (see section 1317E).

182(2) [Involvement]

A person who is involved in a contravention of subsection (1) contravenes this subsection.

Section 79 defines involved .

Note 2: This subsection is a civil penalty provision (see section 1317E).