Public Corporations Act 1993

Neither an executive of a subsidiary nor an associate of an executive of a subsidiary may, without the approval of the parent corporation's

have or acquire a beneficial interest in shares in, debentures of or managed investment schemes of the subsidiary, its parent corporation or any other subsidiary of its parent corporation; or

have or hold or acquire (whether alone or with another person or persons) a right or option in respect of the acquisition or disposal of shares in, debentures of or interests in managed investment schemes of the subsidiary, its parent corporation or any other subsidiary of its parent corporation; or

be a party to, or entitled to a benefit under, a contract under which a person has a right to call for or make delivery of shares in, debentures of or interests in managed investment schemes of the subsidiary, its parent corporation or any other subsidiary of its parent corporation.

An executive of a subsidiary must not counsel, procure, induce or be in any way (whether by act or omission or directly or indirectly) knowingly concerned in, or party to, a contravention of subclause (1).

If a person is convicted of an offence for a contravention of subclause (2), the court by which the person is convicted may, in addition to imposing a penalty, order the convicted person to pay to the parent corporation of the subsidiary—

if the court is satisfied that the person or any other person made a profit as a result of the contravention—an amount equal to the profit;

if the court is satisfied that the subsidiary, its parent corporation or any other subsidiary of the parent corporation suffered loss or damage as a result of the contravention—compensation for the loss or damage.

If a person is guilty of a contravention of subclause (2), the parent corporation or the parent corporation's Minister may (whether or not proceedings have been brought for the offence) recover from the person by action in a court of competent jurisdiction—

if the person or any other person made a profit as a result of the contravention—an amount equal to the profit;

if the subsidiary, its parent corporation or any other subsidiary of the parent corporation suffered loss or damage as a result of the contravention—compensation for the loss or damage.