Corporations Act 2001
Note: This Division applies in relation to CCIVs in a modified form: see sections 1224C .
(a) in good faith in the best interests of the corporation; and
(b) for a proper purpose.
Note 1: This subsection is a civil penalty provision (see section 1317E).
Note 2: Section 187 deals with the situation of directors of wholly-owned subsidiaries.181(2) [ Person involved in contravention]
A person who is involved in a contravention of subsection (1) contravenes this subsection.
Note 1: Section 79 defines involved .
Note 2: This subsection is a civil penalty provision (see section 1317E).