Question: How does case law apply to the Corporations Act? Which of the following is correct? Group of answer choices Case law is very important in

How does case law apply to the Corporations Act? Which of the following is correct?
Group of answer choices
Case law is very important in explaining the application and meaning of different sections, words and concepts within the Corporations Act
Only the High Court can make decisions regarding the various parties involved with a company and the application of the Corporations Act
Case law has no effect on the Corporations Act, since parliamentary sovereignty determines that legislation always overrules a courts decision
Case law has now essentially been replaced by legislation

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