Has Andrew Purcell breached the law by becoming a consultant to QGC after resigning as CEO/director of SGL????
Found these bits in Corporations Act.
Section 183 among other things says-
A person who obtains information because they are or have been a director or other officer or employee of a corporation must not improperly use the information to:
a. gain an advantage for themselves or someone else, or
b. cause detriment to the corporation.
Note: This duty continues after the person stops being an officer or employee of the corporation.
Section 185 includes-
Use of Information - directors, other officers and employees.
A person who obtains information because they are, or have been, a director or other officer or employee of a corporation commits an offence if they use that information dishonestly:
a. with the intention of directly or indirectly gaining an advantage for themselves, or someone else, or causing detriment to the corporation; or
b. recklessly as to whether the use may result in themselves or someone else directly or indirectly gaining an advantage, or in causing detriment to a corporation.
If Purcell has breached the Act, QGC are also probably in breach. So much for corp governance.
And what about SGL's lawyers - they now act for QGC - reckon there would be tougher restrictions on lawyers than directors/employees.
I'm not a lawyer but happy to be corrected.
I hold SGL shares.
SGL
ricegrowers limited
conflict of interest?, page-6
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