20Power of former director to access records

20 Power of former director to access records

(1)  In this section –

former director means a person who ceased to be a director within the period of 7 years immediately preceding the relevant time.

(2)  A former director of the Corporation may inspect and make copies of the records of the Corporation, including its accounting records, financial statements and interim reports, at any reasonable time for the purpose of a legal proceeding –

(a) to which the former director is a party; or

(b) that the former director proposes in good faith to bring; or

(c) that the former director has reason to believe will be brought against him or her.

(3)  The Corporation must allow a former director to exercise his or her powers under this section to inspect and make copies of records.

Penalty:  Fine not exceeding 500 penalty units.

(4)  This section does not limit any right of access to the records of the Corporation that a former director has apart from this section.