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"Whether the purpose of [a] director in exercising his [or her] powers and discharging his [or her] duties was
"Whether the purpose of [a] director in exercising his [or her] powers and discharging his [or her] duties was
improper depends on the purpose, which the person exercising the power, has. It is the person's purpose that has to be assessed. The assessment of whether that purpose was improper is objective."
With reference to — the above statement, the Corporations Act 2001 (Cth) and relevant case law — discuss the following:
What do the terms 'good faith" and "for a proper purpose" mean as they are used in section 181 of the Corporations Act 2001 (Cth)? In your answer discuss the role of the terms 'good faith" and "for a proper purpose" as statutory mechanisms to facilitate corporate governance. with references
