Commonwealth Consolidated Acts

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Chinese wall arrangements by bodies corporate

                   A body corporate does not contravene subsection 1043A(1) by entering into a transaction or agreement at any time merely because of information in the possession of an officer or employee of the body corporate if:

                     (a)  the decision to enter into the transaction or agreement was taken on its behalf by a person or persons other than that officer or employee; and

                     (b)  it had in operation at that time arrangements that could reasonably be expected to ensure that the information was not communicated to the person or persons who made the decision and that no advice with respect to the transaction or agreement was given to that person or any of those persons by a person in possession of the information; and

                     (c)  the information was not so communicated and no such advice was so given.

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