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Joe is a company director in a proprietary company. He is proposing to put a resolution to his company that it buy out the smaller

Joe is a company director in a proprietary company. He is proposing to put a resolution to his company that it buy out the smaller holdings. Joe reasons that there are a number of quite large shareholdings and many of the smaller members have little interest in the company. Joe does not want to force any member o sell heir shares but would like to clean up he register by buying out he smaller holdings. Required: Advise Joe on the legal implications of his plan.

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