79Duties of directors

79 Duties of directors (1) A director of a public entity must at all times in the exercise of the functions of his or her office act— (a) honestly; and (b) in good faith in the best interests of the public entity; and (c) with integrity; and (d) in a financially responsible manner; and (e) with a reasonable degree of care, diligence and skill; and (f) in compliance with the Act or subordinate instrument or other document under which the public entity is established. (2) A person who is or has been a director of a public entity must not, except to the extent necessary— (a) to exercise functions under this or any other Act; or (b) to give any information that he or she is expressly authorised, permitted or required to give under this or any other Act— give to any other person, whether directly or indirectly, any information acquired by him or her by reason of being a director. (3) A director of a public entity must not improperly use his or her position, or any information acquired by him or her by reason of his or her position, to— (a) gain an advantage for himself or herself or another person; or (b) cause detriment to the public entity. S. 79(4) amended by No. 9/2020 s. 390(Sch. 1 item 81.2). (4) A director of a public entity who becomes a candidate for an election to the Parliament of Victoria or of the Commonwealth or of any other State or a Territory or to a Council within the meaning of the **Local Government Act 2020** or a corresponding body in another jurisdiction— (a) must notify the board of the public entity of that fact; and (b) must not use any resources of the public entity in connection with his or her candidature.