193Good faith—civil obligations

193 Good faith—civil obligations

193 Good faith—civil obligations

(cf Corporations Act s 181)

(1) Good faith—directors and other officers A director or other officer of a co-operative must exercise their powers and discharge their duties—

(a) in good faith in the best interests of the co-operative; and

(b) for a proper purpose.

Note—

This subsection is a civil penalty provision (see section 554).

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

Note 1—

This subsection is a civil penalty provision (see section 554).

Note 2—

Section 9 defines “involved” in a contravention.