where are we going apg?, page-30

Hi Folks,

Does this assist the discussion?

Duty not to disclose confidential information -

Due to their fiduciary role, directors have a duty not
to abuse confidential information that they acquire as
a result of their position. Information is considered
confidential where:

1 the owner reasonably believes that:
a if the information were disclosed it would
be in some way detrimental to him/her,
or advantageous to others
b the information is confidential, secret
and not in the public domain
c in light of the usage or practice of the
particular industry or trade, the
information would be regarded as worthy
of protection.25

Examples of this breach of duty would be disclosing
details of the company’s clients or suppliers in
situations where such information would be
considered to have been given in confidence26 or as
engaging in insider trading.27

24 Woolworths Ltd v Kelly [1991] 22 NSWLR 189.
25 Thomas Marshall (Exports) Ltd v Guinle [1979] Ch 227 per Megarry VC.
26 Thomas Marshall (Exports) Ltd v Guinle [1979] Ch 227.
27 Commissioner for Corporate Affairs v Green [1978] VR 505.

Keep the faith,

BS