John Wants to Set Up a Proprietary Company with Only

question 7

Multiple Choice

John wants to set up a proprietary company with only himself as director and himself and his wife as the only shareholders.This is:

• A)not allowed under the Corporations Act, because the company must have at least 5 shareholders
• B)not allowed under the Corporations Act, because the company must have at least 2 directors
• C)allowed under the Corporations Act
• D)not allowed under the Corporations Act, because the company must have at least 2 directors and 5 shareholders

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