In the question bellow please explain the situation base on Australia's law

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Question 1 Salter lGroup operates as a corporate group. The holding company, Salter Ltd, is an ASX listed company. The group consists of 28 different entities. Required: Explain the legal requirements applying to the corporate group under Australian corporate law, including the requirements for the preparation of financial statements. Question 2 Jem, Lenny and Bill inherited shares in a proprietary company, Mackleseld Pty Ltd upon the death of their father in 201?. The company owns a sheep farm and bookshop located in central Victoria. Each brother has 25% of the shares and the remaining 25% is held by their mother, Margaret. Lenny and Bill are the directors of the company as neither Jim nor Margaret are interested in management. Lenny and Bill share the role of managing director. The company uses the replaceable rules. The company needs to replace an old shearing shed. The cost of the replacement building is estimated at $750,000. To fund the building, Lenny and Bill propose that the bookshop be sold for $500,000 and the remaining $250,000 be borrowed from CountryBank with security being taken overthe sheep farm. Required: Explain how the company can enter into these transactions in compliance with the Corporations Act and the replaceable rules. According to our case study, jem, leny and bill have sharre in a proprietary company and after there father death they are trying to use repleaceable rule can they use replaceable rules? Are they allow to borrow form bank ? As we know that company may choosew