Co-operatives National Law Application Act 2013
195Use of information—civil obligations (cf Corporations Act s 183)
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195 Use of information—civil obligations (cf Corporations Act s 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 co-operative must not improperly use the information to:
(a) gain an advantage for themselves or someone else; or
(b) cause detriment to the co-operative.
(2) The duty under subsection (1) continues after the person stops being a director or other officer or employee of the co-operative.
(3) A person who is involved in a contravention of subsection (1) contravenes this subsection.
Note 2. Section 9 defines “involved” in a contravention.