Write an essay on directors’ duties under the Corporations Act 2001 (Cth). In your essay, you must include the following: a. A critical analysis of directors’ statutory duties with reference to at least a relevant case for each of these duties. In your discussion, also include any defence(s) available to the directors to defend breaches of these duties. b. “If anyone still held the view that a directorship was a sinecure doled out in reward for a long career as a business or not-for-profit stalwart – a nice addition to a CV – then the last few years should have sent that particular misconception to the dustbin. In the for-profit world, the Hayne royal commission left no director unaware that they have governance and directors’ duties, and that companies face unprecedented scrutiny of misconduct within their organisations and value chains.” (James Dunn, November 13, 2020, “Director’s job fraught with liabilities, risks and duties”, Australian Financial Review) In the backdrop of the above statement, write your own views on whether the statutory duties (you explored in the above question) have struck a good balance between the protection of the investors and creditors and the freedom of entrepreneurship in business. c. “Directors might be well versed in financial terminology, but those who struggle to link the complex web of business strategy and business risk might now be feeling a little nervous when they look over the books. Considering corporate collapses are often caused when business strategies are developed in isolation from their financial implications, perhaps it's time to discuss how best to educate directors who might be feeling the heat.” (Phil Ross, ‘Directors must be financially literate: Compulsory education of directors is one idea coming out of the Centro decision.’ Sydney Morning Herald, 30 June 2021) Describe eligibility to become director of a public company. In the context of the above statement, do you agree that company directors need relevant education and training before taking up their roles?