(a) The Corporations Act 2001 lays down rules of internal governance that must be complied with by a multi-director/shareholder company to ensure the company is properly run. These rules cannot be avoided.
(b) The Corporations Act 2001 lays down rules of internal governance that must be complied with by a multi-director/shareholder company to ensure the company is properly run. But these rules only apply to the extent that the company does not replace them with its own rules of internal governance.
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