Sorry cob,
you are wrong and maybe it's just as well you are no longer a director.
this is often misunderstood and rarely do I see it communicated properly.
Chapter 2D, part 1, division 1 general dutiesSection 181, good faith -civil obligations
181(1) a director or other officer of a corpoao must exercise their powers and discharge their duties:
(A) in good faith in the best interests of the corporation; and
(B) for a proper purpose.
cases to support this include
percival v WrightColeman v Myers
brunninghausen v glavancis
anyone with basic Business studies and law will know these cases, clearly you don't.
it does not act in the best interests of the shareholder.
Australian Newspaper MSB trial failure, page-41
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