The Replace Rules found in the Corporations Act 2001:

a. Are compulsory for every company registered after 1 July 1998 unless the members opt out of them by adopting a constitution.

b. Are never compulsory.

c. Are only compulsory for Proprietary companies.

d. Are only compulsory for Public companies registered after 1 July 1998 unless the members opt out of them by adopting a constitution.

Who decides whether to pay dividends?

a. The members normally have the power to decide if and when to pay dividends.

b. The Corporation Act 2001 has the power to decide if and when to pay dividends.

c. The directors normally have the power to decide if and when to pay dividends.

d. ASIC has the power to decide if and when to pay dividends.

Division of power in a company can be best explained in the following way ?

a. Persons to act on the company's behalf will always be determined by whether or not the company is solvent.

b. Persons to act on the company's behalf will be the Board of Directors, being the main organ and the members in the general meeting.

c. Persons to act on the company's behalf will be the Board of Directors only, as they are the main organ.

d. Persons to act on the company's behalf will be the Board of Directors, being main organ and the members where the Directors fail to follow the instructions of the members.