s 61 Duty and liability of council members and officers
61.—(1) A member of a council must at all times act honestly and use reasonable diligence in the discharge of the duties of the member’s office. (2) A member of a council, or an officer or an agent or a managing agent of a management corporation, must not use his, her or its position as a member of the council or as an officer, an agent or a managing agent of the management corporation to gain, directly or indirectly, an advantage for himself, herself or itself or for any other person or to cause detriment to the management corporation. (3) Any person who commits a breach of any provision of this section shall —(a) be liable to the management corporation for any profit made by the person or for any damage suffered by the management corporation as a result of the breach of any such provision; and (b) be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000 or to imprisonment for a term not exceeding 12 months or to both. (4) This section is in addition to and not in derogation of any other written law or rule of law relating to the duty or liability of members of a council. (5) In this section —“agent” includes a banker, a solicitor or an auditor of a management corporation and any person who at any time has been a banker, a solicitor or an auditor of the management corporation; “officer” includes a person who at any time has been an officer of a management corporation.