As you correctly noted, much of the responsibility with respect to the monitoring and certification that the port is in compliance with the code rests with the board. Should they deliberately not respect that, or mislead in any way, or not notify the ministers required, or somehow by their lack of monitoring or implementation of that responsibility.... It really could be considered a breach of their fiduciary responsibility, and that's quite a serious issue for board members and directors.
On December 6th, 2007. See this statement in context.