Sections 182 and 183 of the Corporations Act 2001 prohibit directors, officers, and employees from improperly using their position or information to gain an advantage for themselves or others, or to cause detriment to the corporation. These duties persist even after leaving the role.[1]

Section 182: Proper Use of Position
A director, secretary, other officer, or employee must not improperly use their position to gain an advantage or cause detriment. Involvement in a breach also contravenes the section; both are civil penalty provisions.

Section 183: Proper Use of Information
A person who obtains information as a director, officer, or employee must not improperly use it to gain an advantage or cause detriment. This applies post-employment and covers those involved in breaches.[1]

Direct links: s182, s183[1]

Sources
[1] CORPORATIONS ACT 2001 – SECT 912A General …