Write down short explanations for why it is true for false for- i, ii, iv, v, vi, vii and viii. Must be in accordance with Australian Corporations act 2001

QUESTION 2 [20 marks ten parts worth 2 marks each] i) true Choose either True (T) or False (F) for each of the following questions put your answers in the answer space below: ii) false I. Directors of a company can only be removed by a special resolution. iii) false , have to be over 18. No maximum age limit but there is a minimum, iv) true II. The transfer of assets by an insolvent company will not amount to a breach of duty by its directors unless the company is actually in liquidation. v) true III. There are no age limits on directors. vi) true. IV. vii) false Shareholders can be given notice of an extraordinary general meeting at any time prior to the meeting. viii) true V. A company's directors are collectively known as the 'board'. ix) true. The liquidator is clearly an officer by virtue of s 9 of the Corporations Act, and is consequently subject to the additional statutory duties of ss 180- VI. In Scottish Co-operative Wholesale Soc Ltd v Meyer, the Court found that the majority shareholders acted oppressively in relation to the minority. 185. VII. ASIC can disqualify a person from managing a corporation for up to 15 years without a court order. VIII. Company liquidations do not have to be advertised. x) true. As outlined by many states in their laws of incorporation, both public and private companies must hold AGMs, though the rules tend to be more stringent for publicly traded companies. IX. A liquidator is an 'officer' as defined in the Corporations Act. X All companies are required to hold AGMs