1.Select the correct statement: A director who refuses to issue further shares in the company in order to protect a majority shareholder, will:

Not suffer any consequences, because Directors owe a fiduciary duty to the company and its shareholders

Be in breach of Corporations Act s 180

Breach Corporations Act s 184

May be liable to pay compensation to the company for breaching a general law Director Duty to Retain Discretions

Likely incur criminal penalties

2.If a Director makes a secret profit from a company transaction, which of the following legal authorities will be impacted?

• CA s 180

General Law Duty to Avoid a Conflict of Interest

General Law Duty to Retain Discretions

CA s 131

None of these sections are relevant

3.Select the most accurate statement: The main differences between Statutory and Common Law Director Duties are:

Common Law penalties are of a civil nature

Statutory penalties can include criminal penalties

Under the Common Law duties, legal action is started by the Company itself

Under the Statutory Duties, legal action is started by ASIC

All of these statements are correct

4.Which of the following is NOT a type of External Administration?

Receivership

Voluntary Administration

Liquidation

ASIC Management

All of these options are valid types of External Administration