What is the difference between a proprietary company limited by shares and a public company limited by shares? A. A proprietary company must always include the words "Proprietary Limited" or the abbreviation "Pty Ltd" after its name. B. A proprietary company cannot have more than 500 shareholders. C. A public company is permitted to engage in public fundraising. D. Public companies must have a secretary. E. A proprietary company can have a single director. B only. A and C only. A, C, D and E only C, D and E only. They are all correct. QUESTION 9 Which of the following is a proper purpose in relation to the directors' decision to issue shares in a company? A. To reduce a majority shareholder to minority position. B. To entrench control. C. To raise capital. D. To defend a hostile takeover bid. E. None of the above - they are all improper purposes. QUESTION 10 A. If Lorikeet Pty Ltd does not have a constitution, the replaceable rules apply to Lorikeet Pty Ltd. B. Lorikeet Pty Ltd has violated the Corporations Act (Cth) 2001 as all companies need at least two directors. C. Lorikeet Pty Ltd is a small proprietary company under section 45A(2) of the Corporations Act (Cth) 2001. E. Both A and C are correct