Part 2F.1A of the Corporations Act 2001 (Cth) has no application to a company in liquidation; members or creditors dissatisfied with a liquidator's refusal to bring proceedings must use the court's inherent jurisdiction or statutory supervisory mechanisms (ss 477(6), 511, 1321). The good faith requirement in s 237(2)(b) is not confined to abuse of process but extends to whether the applicant is in reality seeking to further personal interests unrelated to their status as shareholder or director. The 'best interests of the company' test in s 237(2)(c) is a high standard that requires the applicant to demonstrate, on the balance of probabilities, that the proposed proceedings will advance the separate and independent welfare of the company.
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