1.A company is a separate legal entity. Certain people can be liable for breaches of legal duties that must be complied with.

An issue is whether a company can decide to do something illegal, for example, to hide illegal activity. What is this problem called? What factors does a court examine to determine whether a company or certain people are liable for illegal activity?

Refer only to the common law position.

2.What is the role of ASIC with regard to the registration and regulation of companies?