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:
What do the terms ‘good faith” and 'best interests of the company' mean as they are used in the Corporations Act 2001 (Cth)?
Do the expressions 'best interests of the company' and ‘in the interests of the company as a whole’ mean the same thing?
Provide answers with cases related?