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In a proceeding on behalf of a company the terms ‘good faith’ and “in the best interests of the company” are used to authorise a Court to grant an application. Required With reference to the above sta

Question Preview:

In a proceeding on behalf of a company the terms ‘good faith’ and “in the best interests of
the company” are used to authorise a Court to grant an application.
Required
With reference to the above statement, case law and the Corporations legislation
answer the following:
(a) What do the terms ‘good faith” and 'best interests of the company' mean as
they are used in the Corporations Act 2001 (Cth)?
(b) Do the expressions 'best interests of the company' and ‘in the interests of the
...

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Question Preview:

In a proceeding on behalf of a company the terms ‘good faith’ and “in the best interests of
the company” are used to authorise a Court to grant an application.
Required
With reference to the above statement, case law and the Corporations legislation
answer the following:
(a) What do the terms ‘good faith” and 'best interests of the company' mean as
they are used in the Corporations Act 2001 (Cth)?
(b) Do the expressions 'best interests of the company' and ‘in the interests of the
company as a whole’ mean the same thing?
Total (50 marks)
*Please ensure you read and understand the materials regarding ‘Assessment 1: Research
Assignment’ on pages 8 – 11 of the Unit Information Guide.
Page 2 of 2
Marking criteria
Important information:
You are advised to consider the following information carefully before starting your
assignment.
The assignment will be marked according to the following criteria:
Research (40%)
You are expected to demonstrate a comprehensive review of the primary law sources
(legislation, case law) as well as an adequate review of secondary sources (for
example textbooks, journal articles, case commentary, explanatory memoranda, Law
Reform Commission reports). Your research should be used to identify and clearly
state the relevant issues and legal principles and support your analysis.
Analysis (50%)
You are expected to analyse the information gathered and evaluate the relevant legal
principles. You are also expected to demonstrate a logical development of your
argument through clear analysis and by applying relevant legal principles to the
resolution of the issue(s). Your analysis should also:
 integrate and evaluate relevant knowledge from the material covered in
this unit;
 develop and sustain a concise and convincing legal argument through to a
logical conclusion; and
 importantly, answer the specific question asked.
Technical aspects (10%)
You are expected to:
o Correctly reference and acknowledge sources. Please note the reference
system adopted in this assignment can be either the AGLC 3 (Australian
Guide to Legal Citation 3rd ed) or the Harvard referencing system. The
referencing system adopted must be used correctly and consistently;
o use fluent, clear, concise writing that contains clear expression, correct
grammar, syntax, sentence structure and spelling; and
o use headings and subheadings (where appropriate), an introduction, conclusion
and bibliography or reference section.

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Solution preview

Introduction:
This individual legal project is divided into the two parts ; where the first part of this
project highlights the importance of some legal terms in context duties of directors, who
are working as an agent of the real Owner; shareholders. While the second part of this
project distinguish the common pronouncing words such as ‘best interest of company’
and “in the interest of company as whole”. Such legal terms has a specific definition in
context to specified legal situation, as stated under various section of corporation Act,
2001. This whole project define the above stated specified terms and interpreter the
application

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