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8 Pages Topic Notes Year: Pre-2021 Previously uploaded under: LLAW3102 - Corporate Law [Drafting]

Statutory Duties S 182 Use of position 1. A director, secretary, other officer or employee of a corporation must not improperly use their position to: a) Gain an advantage for themselves or someone else; or b) Cause detriment to the corporation. 2. A person who is involved in a contravention of subsection (1) contravenes this subsection. Section 182 is the statutory version of the fiduciary principle applied in Regal (Hastings) Ltd v Gulliver [1967] that directors are under a duty to not make undisclosed personal profits arising from their position. However, S 182 is wider in that it applies to employees as well as officers. S 182 is breached if officers or employees improperly use their position to gain an advantage for others


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