LAW00004: The Corporations Act 2001 - Company Law - Research Assignment Answer

Topic
The assignment statement is as follows:
“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.
Required
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.

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