The rules for governing the internal affairs of a company that have been built into the Corporations Law are known as:

Question

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The term "replaceable rules" refers to the predetermined set of rules that cover the internal affairs of a company and are included in the Corporations Law. Companies are not required to adopt these rules, as they can create their own constitution. However, if they do not have their own constitution, these replaceable rules will take effect automatically. Therefore, choice A is the correct answer.

B) The constitution pertains to the specific legal document that outlines the guidelines on how a company must be governed. While the Corporations Law includes some predetermined rules, companies can opt to create their own constitution.

C) The prospectus is a document that provides information about the company's financial status, objectives, and management. It is issued to potential investors to help them make an informed decision about whether to invest in the company.

D) The memorandum of association refers to a historical document that outlines the purpose and objectives of a company when it is first established. The Corporations Law has replaced this requirement with a requirement for a company's constitution.

The Rules for Governing the Internal Affairs of a Company