30Duties of directors

30 Duties of directors

S. 30(1) amended by Nos 53/1994 s. 11(3)(a), 110/1994 s. 33(2), 36/1999 s. 19(e).

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

S. 30(2) amended by Nos 53/1994 s. 11(3)(b), 110/1994 s. 33(2), 36/1999 s. 19(e).

(2) A director of an electricity corporation 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 Nos 53/1994 s. 11(3)(a)(c), 110/1994 s. 33(2), 36/1999 s. 19(e).

(3) A director, or former director of an electricity corporation, 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 the electricity corporation.

S. 30(4) amended by Nos 53/1994 s. 11(3)(a)(d), 110/1994 s. 33(2), 36/1999 s. 19(e).

(4) A director of an electricity corporation 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 the electricity corporation.

(5) This section has effect in addition to, and not in derogation of, any 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 amended by Nos 53/1994 s. 11(4)(a), 110/1994 s. 33(2), 36/1999 s. 19(e).