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Which of the Following Persons May Be Classified as a Promoter

Question 8

Multiple Choice

Which of the following persons may be classified as a promoter of NewCorp Ltd:


A) David was instrumental in registering NewCorp Ltd.
B) John organized for two of his friends to invest in NewCorp Pty Ltd and helped draft the constitution.
C) Matt is a solicitor retained by David to help register NewCorp Pty Ltd.
D) Daniel takes no active part in the incorporation of NewCorp Pty Ltd but is likely to make a profit from the incorporation of NewCorp Pty Ltd.
E) All of them are promoters as the definition of the term "Promoter", found in section 9 of the Corporations Act, is very broad.
F) At most, only David, John and Daniel will be deemed to be promoters.

Correct Answer:

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