South Australian Consolidated Acts South Australian Consolidated Acts9—Members' duties of honesty, care and diligence etc
(1) A member of
the Board must at all times act honestly in the performance of the functions
of his or her office, whether within or outside the State.
Maximum penalty: $10 000.
(2) A member of
the Board must at all times exercise a reasonable degree of care and diligence
in the performance of his or her functions, whether within or outside the
State.
Maximum penalty: $10 000.
(3) A member or former
member of the Board must not, whether within or outside the State, make
improper use of information acquired by virtue of his or her position as such
a member to gain, directly or indirectly, an advantage for himself or herself
or for any other person or to cause detriment to the Board.
Maximum penalty: $20 000.
(4) A member of
the Board must not, whether within or outside the State, make improper use of
his or her position as a member to gain, directly or indirectly, an advantage
for himself or herself or for any other person or to cause detriment to
the Board.
Maximum penalty: $20 000.
(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.
(6) For the purposes
of section 6, a person will not be taken to have acted honestly if the
act constituted or involved contravention by the person of subsection (3)
or (4) of this section.