Chris owns a small company called Lime and is on the board of a large proprietary company called Infinity as a nonexecutive director. Unfortunately, Chris has been struggling with gambling addiction and is now in severe personal debt. A financial trader informs Chris that he can potentially make large amount of money quickly if he uses his position as Infinitys director to access to the Infinitys cheques and forge a loan from Infinity to Lime. He can then use this money to buy shares in Infinity. Chris decides to follow the financial traders advice, and within one week returns enough money to discharge all his personal debts. Kyle then sells the shares that Lime bought in Infinity and pays back the total amount loan. Australian Securities and Investments Commission soon discovers Chriss fraud and takes action against him for violating his duties as Infinitys director. Chris argues with ASIC that since the loan was paid back entirely, Infinity has not suffered any detriment.

Explain whether Chris has acted in accordance with his duties as Infinity's director. You must reference the Corporations Act 2001 (Cth) and case law. Do not discuss penalties in your answer.