sec.74ADPrinciples applying to duties

### sec.74AD Principles applying to duties This section sets out principles applying to duties persons have under subdivision 2 . A person may have more than 1 duty because of the functions the person performs or is required to perform. More than 1 person can concurrently have the same duty. Each person must comply with the duty to the standard required under subdivision 2 even if another person has the same duty. If more than 1 person has a duty for the same matter, each person— is responsible for the person’s duty in relation to the matter; and must discharge the person’s duty to the extent to which the person— has the capacity to influence and control the matter; or would have the capacity but for an agreement or arrangement purporting to limit or remove that capacity. A person’s duty can not be transferred to another person. s 74AD ins 2017 No. 29 s 11 (sec.74AD-ssec.1) This section sets out principles applying to duties persons have under subdivision 2 . (sec.74AD-ssec.2) A person may have more than 1 duty because of the functions the person performs or is required to perform. (sec.74AD-ssec.3) More than 1 person can concurrently have the same duty. (sec.74AD-ssec.4) Each person must comply with the duty to the standard required under subdivision 2 even if another person has the same duty. (sec.74AD-ssec.5) If more than 1 person has a duty for the same matter, each person— is responsible for the person’s duty in relation to the matter; and must discharge the person’s duty to the extent to which the person— has the capacity to influence and control the matter; or would have the capacity but for an agreement or arrangement purporting to limit or remove that capacity. (sec.74AD-ssec.6) A person’s duty can not be transferred to another person. - (a) is responsible for the person’s duty in relation to the matter; and - (b) must discharge the person’s duty to the extent to which the person— (i) has the capacity to influence and control the matter; or (ii) would have the capacity but for an agreement or arrangement purporting to limit or remove that capacity. - (i) has the capacity to influence and control the matter; or - (ii) would have the capacity but for an agreement or arrangement purporting to limit or remove that capacity. - (i) has the capacity to influence and control the matter; or - (ii) would have the capacity but for an agreement or arrangement purporting to limit or remove that capacity.