QUESTION ONE(20 Marks)

Please answer the following separate scenarios, include references to case law and legislation.

a)Explain the division of power between the Board of directors and General Meeting of Shareholders.

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b)Discuss who is bound by the Constitution and replaceable rules. With respect to the different parties briefly outline the rights that may be enforced under the Constitution and replaceable rules.

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c)Detail the conditions that must be satisfied for a small scale offering to be exempt from the disclosure requirements.

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d)List the benefits of voluntary administration as a process that gives business an opportunity to recover?

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