Question 2 Leanne Park has concerns regarding the unlimited liability status of a sole trader and she is considering setting up a proprietary limited company. She has read about shareholders enjoy limited liability and finds this attractive. Leanne will be the only shareholder and director of the company.

Required:

Discuss are there any circumstances in which Leanne Park, as a director, could be personally liable for any debts of the company? (Note: In your answer, cite all relevant legislation, if any.)