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Lexi owns 65% of the shares of AusBank Ltd. AusBank runs a banking business and the directors have recently announced that they passed a directors'
Lexi owns 65% of the shares of AusBank Ltd. AusBank runs a banking business and the directors have recently announced that they passed a directors' resolution to purchase an office building in Sydney for its headquarters. Lexi is furious when she hears about this announcement as she believes the company should be headquartered in Brisbane. She makes a request under section 249D of the Corporations Act in order to pass a shareholders' resolution to overturn the decision to buy the building in Sydney. Which of the following is correct?
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