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 ell heir hare b old like o clean p he regier b bing o he maller holdings. Required: Advise Joe on the legal implications of his plan.