John Wants to Set Up a Proprietary Company with Only

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