Corporations Act 2001

CHAPTER 2D - OFFICERS AND EMPLOYEES  

PART 2D.1 - DUTIES AND POWERS  

Division 1 - General duties  

Note: This Division applies in relation to CCIVs in a modified form: see sections 1224C .

SECTION 183   USE OF INFORMATION - CIVIL OBLIGATIONS  

183(1)   Use of information - directors, other officers and employees.  

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).

183(2)   [ Person involved in contravention]  

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).