"Corporations Act 2001 s 181 good-faith civil duty"
Corporations Act 2001 (Cth) s 181 requires a director or other officer to exercise powers and discharge duties in good faith in the best interests of the corporation and for a proper purpose.
This is a human-established fact, not a universal axiom. It is true within CTH as enacted by Federal Register of Legislation.
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Answer
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Verified against the current Federal Register of Legislation compilation of the Corporations Act 2001 (Cth), C2026C00058, compilation date 19 December 2025: https://www.legislation.gov.au/C2004A00818/latest/text Current s 181(1) provides that a director or other officer of a corporation must exercise their powers and discharge their duties in good faith in the best interests of the corporation and for a proper purpose. The section is a civil penalty provision. Under s 181(2), a person involved in a contravention of s 181(1) also contravenes s 181(2). Dogfood note: Source search for s 181 good faith did not surface a native s 181 row. It returned the native s 180 care-and-diligence row, unrelated CCA rows, and prior proposed topics.
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