South Australian Current Acts South Australian Current Acts (1) A delegate of a
community corporation who has a direct or indirect pecuniary interest in a
matter in relation to which he or she proposes to perform delegated functions
or powers must disclose the nature of the interest, in writing, to the
corporation before performing the functions or powers.
Maximum penalty: $15 000.
Example—
For example, if the delegate would receive a commission from a person for
placing business of the community corporation with that person, it would be an
offence to fail to disclose that fact before placing business with the person.
Similarly, if the delegate were to profit by placing business of the community
corporation with a related body corporate, it would be an offence to fail to
disclose that fact before placing business with the related body corporate.
(2) If an employee or
agent of a delegate has a direct or indirect pecuniary interest in a matter,
the delegate is, for the purposes of subsection (1), taken to have a
direct or indirect pecuniary interest in the matter.
(3) A delegate who is
the owner of a community lot is not obliged by subsection (1) to disclose
an interest that he or she has in common with all of the owners of the
community lots.
(4) It is a defence to
a charge of an offence against subsection (1) for the defendant to prove
that he or she did not know and could not reasonably have been expected to
know of his or her interest in the matter.
(5) A delegate of a
community corporation must, on application by an owner of a community lot or a
development lot, provide the applicant, on a quarterly basis, with a statement
setting out details of dealings by the delegate with the corporation's money
(and must continue to so provide the statements until the applicant ceases to
be an owner or revokes the application).
Maximum penalty: $500.
(6) If all delegations
by a community corporation to a delegate are revoked, the delegate must return
to, or make available for collection by, the corporation—
(a) all
records of the corporation held by the delegate; and
(b) all
trust money held pursuant to the delegations,
in accordance with any requirements prescribed by the regulations.
Maximum penalty: $2 000.
(7) A delegate of a
community corporation who holds records of the corporation must, at the
request of any member of the corporation—
(a) make
those records available for the member to inspect within 10 business days
of the request; and
(b)
provide the member with a copy of any of the records on payment of a fee (not
exceeding a fee calculated in accordance with the regulations).
Maximum penalty: $500.