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Fiduciary Relationship means for the purpose of this matter - (i) one or more persons, in a position of vulnerability, justifiably vest/s confidence, good faith, reliance and trust in another person or persons whose aid, advice or protection is sought in some matter; or (ii) a government, parliament or public body appoints a person or persons which possess particular skills to act in the best interests of one or more persons, in a position of vulnerability.
In such a relation good conscience requires the Fiduciary to act at all times for the sole benefit and interest of the one who places trust in the Fiduciary, namely the Fiduciary's 'Principal' or 'Principals' under the Principal-Agent Relationship . A regulator's duty as a fiduciary to 'the less informed and empowered' is taken from A Stolen generation - Finding A Fiduciary Duty. See: Fiduciary Relationships - Power Point presentation by Professor Cameron Stewart, Pro Dean at Sydney Law School, Sydney University |
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