195Use of information—civil obligations

195 Use of information—civil obligations

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.

Note—

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

(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 1—

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

Note 2—

Section 9 defines “involved” in a contravention.