In his 2009 article 'The proper role of shareholders in the decision-making processes of modern large Australian public companies', James Mayanja stated, 'Corporate law seeks to serve the interests of the company as a whole. This means either the general body of shareholders or the company as a separate legal and economic entity. Empowering some shareholders to dictate [business decisions] to directors, has the potential to undermine these objectives.'

Refer to the information in Mayanja's article + do research and find information about the fiduciary obligations owed by directors. Give a definition. Give examples such as the director duties contained in the Corporations Act. Discuss why directors must comply with these duties, and please give the references.

Then discuss the fact that shareholders do not owe a fiduciary duty to the company... meaning they can put their own best interest first. You will find information on this online.