Co-operatives National Law (Queensland)
sec.193Good faith—civil obligations (cf Corporations Act s 181 )
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sec.193 Good faith—civil obligations (cf Corporations Act s 181 )
Good faith—directors and other officers A director or other officer of a co-operative must exercise their powers and discharge their duties— in good faith in the best interests of the co-operative; and for a proper purpose. This subsection is a civil penalty provision (see section 554 ). A person who is involved in a contravention of subsection (1) contravenes this subsection. This subsection is a civil penalty provision (see section 554 ). Section 9 defines “involved” in a contravention. (sec.193-ssec.1) Good faith—directors and other officers A director or other officer of a co-operative must exercise their powers and discharge their duties— in good faith in the best interests of the co-operative; and for a proper purpose. This subsection is a civil penalty provision (see section 554 ). (sec.193-ssec.2) A person who is involved in a contravention of subsection (1) contravenes this subsection. This subsection is a civil penalty provision (see section 554 ). Section 9 defines “involved” in a contravention.
- (a) in good faith in the best interests of the co-operative; and
- (b) for a proper purpose.