Company has retained the replaceable rules

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Reference no: EM133938021

Questions

Choose either True (T) or False (F) for each of the following questions

1. If a company has retained the replaceable rules, its directors will have authority as to the issue of dividend.

2. If a shareholder wants to bring an action under s 236 of the Corporations Act 2001 (Cth) regarding a transaction the company is involved in, the issue of whether the directors have a material personal interest in that transaction is not relevant.

3. Among the officers of a company, only the directors of a company owe the duty to prevent insolvent trading as per the provisions of the Corporations Act 2001 (Cth).

4. In the ASIC v Adler (2002) 41 ACSR 72 case, Mr Rodney Adler was not the director of HIHC, the HIH subsidiary that advanced the $10 million to Pacific Eagle Equity Pty Ltd (PEE).

5. A company will be directly liable for all crimes committed by its employees.

6. Once a company is deregistered under the Corporations Act 2001 (Cth.), it can never be reinstated.

7. Ordinary shares can be traded on the ASX.

8. Proxies cannot be 'directed' to give specific instructions on how to vote on the resolution.

9. Public companies can have a governing director.

10. The Corporations Act 2001 (Cth) prohibits the reduction of share capital.

Reference no: EM133938021

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