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Activity 3.2 I '.'-jtahll UH In 2021 Tom, Dick and Marie were equal partners in a car washing business in Sydney. In June 2022 they
Activity 3.2 I '.'-"jtahll UH In 2021 Tom, Dick and Marie were equal partners in a car washing business in Sydney. In June 2022 they decided to carry on business as a proprietary company. Accordingly, they formed Car Wash Pty Ltd but they did not register a constitution. Each had 100 51 5 es. All three were directors and all profits were distributed ay of salary to directors. In December 2021 a dispute arose because Tom and Dick wished to diversify by opening a chain of hairdressing salons in Dubbo. Man'e dissented vigorously and as a result Tom and Dick convened a general meeting of shareholders and removed her from the Board. Marie now wishes to sell her shares but the Board refuses to allow her to transfer the shares to an outsider, and the Board refuses to pay more than one dollar per share. Car Wash Pty Ltd has a net asset value of $99 000. Advise Marie of her rights under the Corporations Act
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