1. Select the most appropriate statement: Select one: a. All of these statements are correct b. ASIC can bring action against a person for breaching the company constitution c. A Board of Directors can ask the Court to impose a criminal penalty on one of its own company directors for breaching CA s 184 d. Only ASIC can take action against a Director for breaching CA s 184 resulting in a criminal penalty
2. Select the most appropriate statement: Select one: a. All of these statements are true b. Companies are separate legal persons in the eyes of the law c. Breach of the company constitution is a criminal offence d. Shareholders make all the business decisions for the company
3. Select the most appropriate statement. Company officers will only be excused from a breach of their fiduciary duty to avoid conflicts of interest: Select one: a. All of the answers are false b. As long as the company suffers no loss c. As long as the company makes a profit in the long run d. If they make no profit from the breach
4. Select the INCORRECT statement: The main defences that a director can use to defend himself or herself against insolvent trading allegations are: Select one: a. Reasonable expectation of solvency b. Evidence that she or he took reasonable steps to put the company in Voluntary Administration c. Reasonable reliance on others d. Absence from management e. Business Judgement Rule
5. In relation to the Equitable Limitation on Majority Voting Power, select the relevant case: Select one: a. Totally and Permanently Incapacitated Veterans of NSW Ltd v Gadd b. ASIC v Vizard c. Salomon v Salomon Company Ltd d. Gambotto v WCP Ltd