William is a director of a company which sells mining equipment in Queensland. He is the primary carer of 3 young children and is finding it difficult to find time to read the company financial statements and other company related documents. William is often late when he attends board meetings and is distracted by his children when he uses virtual technology to attend meetings from home.

What are the minimum standards or requirements for a director? Provide a relevant case in your answer.

If William does not have time to read or review any reports or monitor the company activities, can he rely on the Business Judgment Rule $180(2) as a defence to a breach of the minimum standard of care? Why/why not?