UU. e beness of incorporation are capable of extending to small private companies. QUESTION 3 Which of the following sections of the ASIC Act 2001 (Cth) empowers ASIC to initiate civil action on behalf of a company? a. Section 48. Ob. Section 35. c. Section 50. d. Section 25. QUESTION 4 Select the statement that most accurately describes the key features of ALL companies: a. All companies must be incorporated (registered). b. All companies must have shareholders. c. All companies must have at least three directors. d. All of the above are correct. Click Save and Submit to save and submit. Click Save All Answers to save all answers