Assistance given by governing board members for div 9.6
111 Assistance given by governing board members for div 9.6
The governing board, or a member of the governing board, of a division 9.6 authority may, on the board’s or member’s own initiative, give the Territory assistance in relation to the transfer of the authority’s assets.
Examples of forms of assistance
1 giving information
2 giving financial assistance
3 giving a financial benefit to an entity
4 giving facilities, information and other assistance in relation to the conduct of a due diligence procedure or market briefing
5 entering into an agreement with the Territory
The governing board, or a member of the governing board, of a division 9.6 authority must, if asked in writing by the responsible Minister for the authority, assist the Territory in relation to the transfer of the authority’s assets.
If the governing board, or a member of the governing board, of a division 9.6 authority must give assistance under subsection (2), the assistance must be given within the period, and in the way, stated in the request.
To remove any doubt, a governing board or a member of a governing board who gives assistance under this section does not incur civil liability only because of the giving of assistance.
Any liability that would, apart from this section, attach to the members or member of the governing board attaches instead to the Territory.
This Act’s bill:Explanatory statement
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