(a) Corporations Act 2001 (Cth) — the principal Commonwealth statute governing companies and directors’ statutory obligations.

(b) s 180 (care and diligence) — requires a director to exercise the degree of care and diligence that a reasonable person would exercise in the same circumstances; s 181 (good faith) — requires a director to act in good faith in the best interests of the company; s 182 (improper use of position) — prohibits a director from using their position to gain an advantage for themselves or someone else or to cause detriment to the company.

(c) s 588G (insolvent trading) — a director must not allow the company to incur a debt when the company is insolvent or becomes insolvent by incurring the debt, and there are reasonable grounds for suspecting insolvency.