BTB2220 Study Guide - Final Guide: Oppression Remedy, Trading While Insolvent, Derivative Suit
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Notes: (i) a basic answer" would get a pass or credit (depending on how well the material is handled); a good answer" would get a distinction or high distinction. [note: a small point - there is some ambiguity about the facts. The question states that the board was unanimous but albert remained silent". It was meant that albert remained silent about his interest (ie but voted). But as this is not clear, students could also assume that. This only affects the first dot point under good answer" below] There was no disclosure here in any sense so there has been a breach of both the general law and the act. The different consequences of the breach should be identified ie: (i) (ii) general law: the purchase is voidable at the option of alpha. S 181: use of position by using his voting power on the board.
