When directors exercise their decision-making power in companies, they must do so in accordance with their statutory and general law duties. However, shareholders, even majority shareholders, do not owe equivalent duties to the company. Is a majority shareholder allowed to vote however it wishes at a general meeting, without worrying about the effect of the decision on the minority shareholders or on the company as a whole? If not, why not?

Explain with reference to:

(a) general law and

(b) relevant provisions of the Corporations Act 2001 (Cth).