of this connection as he and Shalini had been featured in the media. Faculty of Arts and Society Semester 2, 2024 Page 4 of 4 Assume that Mary, one of the shareholders of FBL finds out about the Board of FBL paying Michael these commissions. She is angry as she was one of those customers who had complained to BSPL about "Be Blonde" and was ignored. Mary knows Michael is involved in BSL. She reports the matter of the commissions to the corporate regulator, ASIC. Required: (a) To whom does Michael owe duties as the managing director of FBL? (5 marks) (b) Identify and explain the duties Michael owes in his capacity as a director of FBL. (10 marks) (c) Has Michael breached any of his statutory duties under the Corporations Act, 2001? If yes, what are the possible consequences of these breaches? (10 marks) Important: Your answer must refer to the relevant case law and provisions of the Corporations Act, 2001