Physical Activity and Sport Act (S.C. 2003, c. 2)

Marginal note:Duty of care

• 30 (1) Every director and officer of the Centre, in exercising their powers and performing their duties and functions, must

  • (a) act honestly and in good faith with a view to the best interests of the Centre;

  • (b) exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances; and

  • (c) comply with this Act and the by-laws of the Centre.

• Marginal note:No exculpation

  (2) No provision in a contract or resolution relieves a director or officer from the duty to act in accordance with this Act, the regulations or the by-laws or relieves a director or officer from liability for a breach of any of them.

• Marginal note:Reliance on statements

  (3) A director or officer is not liable for a breach of duty under subsection (1) if the director or officer relies in good faith on

  • (a) financial statements of the Centre represented to the director or officer by an officer of the Centre or in a written report of the auditor of the Centre as fairly reflecting the financial condition of the Centre; or

  • (b) a report of a lawyer, notary, accountant, engineer, appraiser or other person whose position or profession lends credibility to a statement made by that person.