Answer theses question fully and in detail. These questions are related to ASX Corporate Governance Council requirement for all listed companies to have a majority of "independent" board members.

1. Why independence of a director is compromised if they are holding significant shareholdings in the company?
2. What new agency conflicts would be created if directors independence was compromise?
3. Role of management team, and shareholders and what important role of board of directors has in-between two of these roles?
4. Statistic on corporation government failure as a result of directors independence compromise