$1.$ Which of the following BEST represents the comments of Justice Thawley in the case of Cassimatis v ASIC $[2020]$ FCAFC $52?$

a$.$

The balancing exercise must be confined to commercial considerations.

b$.$

Any balancing act is futile and should not be undertaken.

c$.$

The balancing exercise does not have to be confined to commercial consideration and can extend to considering all of the interests of the company.

d$.$

The balancing exercise does not have to be confined to commercial considerations but is limited to activities undertaken by the company in the last $6$ months.