Question 1

What is the maximum number of members that a registered proprietary company may have?

a.

50 counting employees

b.

50

c.

Unlimited

d.

50 not counting employees

e.

20

Question 4

The Commonwealth government was able to enact theCorporations Act 2001because of:

a.The referral of power by the states of Australia to the Commonwealth government

b.The High Court decision ofreWakim; exParteMcNally(1999) 17 ACLC 1055

c.The power under section 51(xx) of the Constitution to legislate with respect to "foreign corporations, and trading or financial corporations formed within the limits of the Commonwealth"

d.The Commonwealth government power to override any corporations legislation of the states because it governs the whole of Australia

Question 12

Which of the following statements isTRUE?

a.The Court is the only authority with the power to disqualify a person from managing corporations

b.A person who is disqualified from managing corporations cannot, under any circumstances, manage a corporation during the period of disqualification

c.The Court has the power under theCorporations Actto disqualify a person from managing corporations if the person was the sole director of a proprietary company wound up on the grounds of insolvency

d.The Court may disqualify a person from managing corporations if the person, whilst a director of a company, breached theCorporations Acttwiceand the disqualification is justified

e.A person is automatically disqualified from managing corporations if the person has breached theCorporations Act