Only in this part, assume that Hilary issues 50,000 Carborundum shares at a price of $1 each to Inventions with the requirement that only 1 cent needs to be paid initially. The issue of shares to Inventions was listed down in the Member's Register of Carborundum. When Ben and Alan find out, they declare the share issue void. Discuss whether the issue of shares is valid and Hilary's potential liability under the Corporations Act.