Halifax Pty Ltd has decided to pay a dividend. The board met, fixed the amount, time and method of payment for a dividend. Unfortunately though Halifax Pty Ltd's liabilities now exceed its assets by $100,000 in the current year. The time that was fixed for payment of this dividend has not yet arrived

A.Halifax Pty Ltd cannot go ahead and pay this dividend because it can only declare a dividend to be paid from profits

B. Halifax Pty Ltd cannot alter its decision to pay a dividend because once declared the dividend is a debt of the company

C. Halifax Pty Ltd cannot declare a dividend because there is a minimum limit of assets that a company must retain and for Halifax Pty Ltd to pay a dividend now they would exceed this limit

D. Halifax Pty Ltd, through its director Cecil, can revoke the decision to pay the dividend