Question
In New South Wales, Ned and Sam are the directors of a proprietary company. Jonathon, Saul, Randy and David are the shareholders. The shareholders are
In New South Wales, Ned and Sam are the directors of a proprietary company. Jonathon, Saul, Randy and David are the shareholders. The shareholders are very disappointed in the directors for failing to purchase the copyright rights in the ACDC' music from Prince's executor. The shareholders want the company to make an offer to the executor before it is too late. What can they do?
A. | Replace the directors by resolution in a shareholders' meeting or change the constitution to transfer the power to purchase the music rights to the shareholders. | |
B. | Replace the directors by resolution in a shareholders' meeting. | |
C. | Change the constitution to transfer the power to purchase the music rights to the shareholders. | |
D. | Pass a shareholders' resolution ordering the directors to purchase the music rights. |
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