Question 17. [1 mark]

Choose the correct ending to the following statement:

A creditor has standing to sue for an injunction to prevent a contravention of the Corporations

Act 2001 under section 1324 of the same

a. under no circumstances.

b. if the creditor's interests are affected by the contravention.

c. if the contravention would be oppressive, unfairly prejudicial or unjustly detrimental

to the creditor's interests.

d. in respect of every contravention of the Corporations Act 2001.

Question 18. [1 mark]

Absent anything other than their appointment as a company's auditor, to whom does an

auditor owe a duty?

a. Individual shareholders

b. The directors

c. Banks to whom the auditors are told the report is being sent

d. Investors who buy shares on the strength of the report

Question 19. [1 mark]

The Sons ofGwalia decision

a. Equated all claims by shareholders with those of unsecured creditors.

b. Equated only some claims by shareholders with those of unsecured creditors

c. Deferred all claims by shareholders to those of unsecured creditors

d. Deferred only some claims by shareholders to those of unsecured creditors

Question 20. [1 mark]

Who administers a public company's internal affairs?

a. ASIC

b. APRA

c. ACCC

d. The company Secretary

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