Under S 461 of the Corporations Act, General Grounds on Which

question 19

Multiple Choice

Under s. 461 of the Corporations Act, general grounds on which the court can order a winding up include:
I. The company has no members.
II. The court is of the opinion that it is just and equitable that the company be wound up.
III. The company has not commenced business within twelve months of its incorporation.

• A) I, II and IV
• B) II, III and IV
• C) II and III only
• D) I, II, III and IV

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Definitions:

Fair Labor Standards Act

A United States federal law that establishes minimum wage, overtime pay eligibility, recordkeeping, and child labor standards for employees in the private sector and in Federal, State, and local governments.

Federal Minimum Wage

The lowest legal hourly wage that employers can pay their employees, as mandated by federal law.

Landrum-Griffin Act

A U.S. law enacted in 1959 to regulate labor unions' internal affairs and their officials' relationship with employers.

Internal Affairs

A division within a police department or other organization that investigates incidents involving its own members, ensuring operational integrity.