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South-East Queensland Water (Distribution and Retail Restructuring) Regulation 2021
sec.12Reliance on information or advice provided by others [CA, s 189 ]
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### sec.12 Reliance on information or advice provided by others [CA, s 189 ]
This section applies if—
a board member of a distributor-retailer relies on information, or professional or expert advice, given or prepared by—
an officer or an employee of the distributor-retailer whom the board member believes on reasonable grounds to be reliable and competent in relation to the matters concerned; or
a professional adviser or expert relating to matters the board member believes on reasonable grounds to be within the person’s professional or expert competence; or
another board member relating to matters within the board member’s authority; or
a committee of board members on which the board member did not serve relating to matters within the committee’s authority; and
the reliance was made—
in good faith; and
after making an independent assessment of the information or advice, having regard to the board member’s knowledge of the distributor-retailer and the complexity of the structure and operations of the distributor-retailer; and
the reasonableness of the board member’s reliance on the information or advice arises in proceedings brought to decide whether a board member has performed a duty under this part or an equivalent general law duty.
The board member’s reliance on the information or advice is taken to be reasonable unless the contrary is proved.
(sec.12-ssec.1) This section applies if— a board member of a distributor-retailer relies on information, or professional or expert advice, given or prepared by— an officer or an employee of the distributor-retailer whom the board member believes on reasonable grounds to be reliable and competent in relation to the matters concerned; or a professional adviser or expert relating to matters the board member believes on reasonable grounds to be within the person’s professional or expert competence; or another board member relating to matters within the board member’s authority; or a committee of board members on which the board member did not serve relating to matters within the committee’s authority; and the reliance was made— in good faith; and after making an independent assessment of the information or advice, having regard to the board member’s knowledge of the distributor-retailer and the complexity of the structure and operations of the distributor-retailer; and the reasonableness of the board member’s reliance on the information or advice arises in proceedings brought to decide whether a board member has performed a duty under this part or an equivalent general law duty.
(sec.12-ssec.2) The board member’s reliance on the information or advice is taken to be reasonable unless the contrary is proved.
- (a) a board member of a distributor-retailer relies on information, or professional or expert advice, given or prepared by— (i) an officer or an employee of the distributor-retailer whom the board member believes on reasonable grounds to be reliable and competent in relation to the matters concerned; or (ii) a professional adviser or expert relating to matters the board member believes on reasonable grounds to be within the person’s professional or expert competence; or (iii) another board member relating to matters within the board member’s authority; or (iv) a committee of board members on which the board member did not serve relating to matters within the committee’s authority; and
- (i) an officer or an employee of the distributor-retailer whom the board member believes on reasonable grounds to be reliable and competent in relation to the matters concerned; or
- (ii) a professional adviser or expert relating to matters the board member believes on reasonable grounds to be within the person’s professional or expert competence; or
- (iii) another board member relating to matters within the board member’s authority; or
- (iv) a committee of board members on which the board member did not serve relating to matters within the committee’s authority; and
- (b) the reliance was made— (i) in good faith; and (ii) after making an independent assessment of the information or advice, having regard to the board member’s knowledge of the distributor-retailer and the complexity of the structure and operations of the distributor-retailer; and
- (i) in good faith; and
- (ii) after making an independent assessment of the information or advice, having regard to the board member’s knowledge of the distributor-retailer and the complexity of the structure and operations of the distributor-retailer; and
- (c) the reasonableness of the board member’s reliance on the information or advice arises in proceedings brought to decide whether a board member has performed a duty under this part or an equivalent general law duty.
- (i) an officer or an employee of the distributor-retailer whom the board member believes on reasonable grounds to be reliable and competent in relation to the matters concerned; or
- (ii) a professional adviser or expert relating to matters the board member believes on reasonable grounds to be within the person’s professional or expert competence; or
- (iii) another board member relating to matters within the board member’s authority; or
- (iv) a committee of board members on which the board member did not serve relating to matters within the committee’s authority; and
- (i) in good faith; and
- (ii) after making an independent assessment of the information or advice, having regard to the board member’s knowledge of the distributor-retailer and the complexity of the structure and operations of the distributor-retailer; and