30Duties of directors

30 Duties of directors

S. 30(1) amended by No. 10/2017 s. 24(3).

(1) A director of Development Victoria must at all times act honestly in the performance of the functions of his or her office.

S. 30(2) amended by No. 10/2017 s. 24(3).

(2) A director of Development Victoria must at all times exercise a reasonable degree of care and diligence in the performance of his or her functions.

S. 30(3) amended by No. 10/2017 s. 24(3).

(3) A director, or former director, of Development Victoria must not make improper use of information acquired by virtue of his or her position as a director to gain, directly or indirectly, an advantage for himself or herself or for any other person or to cause detriment to Development Victoria.

S. 30(4) amended by No. 10/2017 s. 24(3).

(4) A director of Development Victoria must not make improper use of his or her position as a director to gain, directly or indirectly, an advantage for himself or herself or for any other person or to cause detriment to Development Victoria.

(5) This section has effect in addition to, and not in derogation of, this Act or any other Act or law relating to the criminal or civil liability of a member of the governing body of a corporation and does not prevent the institution of any criminal or civil proceedings in respect of such a liability.

S. 31 (Heading) amended by No. 10/2017 s. 22(3).

S. 31 amended by No. 10/2017 s. 24(3).