1. Willis owns and operates a swim school business and has decided to operate the business under a company structure.

He considers himself a rebel and doesnt like the idea of his company having rules. He would much prefer to run his company however he likes and make up the rules as he goes along.

Question 1 Advise Willis if he is required to have rules for his company.

2.Ryan is the managing director and majority shareholder of a public company called Quick Think Ltd. The company is governed by the replaceable rules in the Corporations Act.

Ryan wishes to list Quick Think Ltd on the Australian Securities Exchange (ASX). He is hoping that Quick Think Ltd can keep the replaceable rules after listing on the ASX.

Question 2: Advise Ryan if Quick Think Ltd can list on the ASX and keep the replaceable rules

3.Aziza owns and operates a company a company named Self Health Ltd.

The company has a constitution with an objects clause that states:

The object of Self Health Ltd is to offer fitness advice and health products online.

Self Health Ltd uses some of its earning to purchase shares in other companies listed on the ASX.

Aziza is now worried that the share transactions may be invalid becausethey fall outside of the companys objects clause.

Question 3: Advise Aziza if the share transactions are invalid.

4.Adriano is the company secretary of Shamrock Pty Ltd. He finds a clause in the company constitution that he feels is unnecessary. He deletes the clause and sends an email to the shareholders advising them of the deletion.

The shareholders seek your advice.

Question 4: Advise the shareholders of Shamrock Pty Ltd whether the company secretary has the authority to make changes to the company constitution.