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[20 Mains] Question 2 Minnie Mouse holds 1% of the shares in Universal Pty Ltd. There are four other shareholders, each of whom is also

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[20 Mains] Question 2 Minnie Mouse holds 1% of the shares in Universal Pty Ltd. There are four other shareholders, each of whom is also a director. Minnie suspects that the directors may have been personally profiting at the expense of the company. At a recent general meeting, a resolution was passed resolving that Universal Pty Ltd had no interest in a transaction, which the directors had personally undertaken and profited from. When Minnie complained to the directors, they threatened to convene a general meeting to create a constitution giving them the power to compel her to sell her shares to them. NOTE: You are required to use the 4-steps process in answering this question. The marks allocated for the steps are as follows: Steps 1 and 2: 8 Marks. Steps 3 and 4:7 Marks. [15 Marks]

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