s 208
In forceGood faith: civil obligations
Part 9Management and administration of co‑operatives
Division 3Duties and liabilities of directors, officers and employees
208 Good faith: civil obligations
(1)
A director or other officer of a co‑operative must exercise their powers and discharge their duties —
(a)
in good faith in the best interests of the co‑operative; and
(b)
for a proper purpose.
Note for this subsection:
This is a civil penalty provision (see section 482A).
(2)
A person who is involved in a contravention of subsection (1) contravenes this subsection.
Note for this subsection:
This is a civil penalty provision (see section 482A).
[Section 208 inserted: No. 7 of 2016 s. 63.]
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