A Company May Be Exempted from the Requirements of S

question 16

Multiple Choice

A company may be exempted from the requirements of s.296 of The Corporations Act if:

• A) It is a small proprietary company within the definition of the Act.
• B) A special meeting of 75 per cent of the shareholders convened under s. 293 agrees to the preparation of financial reports that do not comply with those accounting standards.
• C) The report is prepared in response to a shareholder direction under s. 293 and the direction specifies that the report does not have to comply with those accounting standards.
• D) It is a small proprietary company within the definition of the Act, the report is prepared in response to a shareholder direction under s. 293 and the direction specifies that the report does not have to comply with those accounting standards.

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Definitions:

French law

refers to the legal system established in France, which includes civil law traditions, statutory laws, and regulations governing various aspects of life and business in the country.

Industry level agreements

Collective bargaining agreements negotiated at the industry or sector level, affecting all workers and employers within that industry.

Employer association

An organization of employers united to promote their collective business interests and negotiate with unions.

Industry-wide bargaining

Collective bargaining negotiations that occur at the industry level, covering all employers and employees within that industry.