Co-operatives National Law (Queensland)
sec.195Use of information—civil obligations (cf Corporations Act s 183 )
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sec.195 Use of information—civil obligations (cf Corporations Act s 183 )
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— gain an advantage for themselves or someone else; or cause detriment to the co-operative. This subsection is a civil penalty provision (see section 554 ). The duty under subsection (1) continues after the person stops being a director or other officer or employee of the co-operative. 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.195-ssec.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— gain an advantage for themselves or someone else; or cause detriment to the co-operative. This subsection is a civil penalty provision (see section 554 ). (sec.195-ssec.2) The duty under subsection (1) continues after the person stops being a director or other officer or employee of the co-operative. (sec.195-ssec.3) 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) gain an advantage for themselves or someone else; or
- (b) cause detriment to the co-operative.