You are an intern at the Australian Securities and Investment Commission (ASIC) in Darwin, Northern Territory. The Commissioner has requested that you prepare a short research paper on the following topic:

‘To what extent has the law in Australia progressed in making an officer of a company personally liable for breach of duty of care, skill and diligence?’
In the briefing paper by the Commissioner you are required to make reference to the following (but not exclusively):
• Reading materials available on the ASIC website;
• The Corporations Act 2001 (Cth) and related legislation;
• Relevant recent case law which demonstrate the progression or regression of such liability;
• A relevant on-going corporate debacle (e.g. see the ASIC Website) where you can critically examine the way in which the law on breach of duty of care, skill and diligence.

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