Question: The shareholders in Strong Automatic & Shore Pty Ltd are concerned when the board announces that they are going to sell some land of historical

The shareholders in Strong Automatic & Shore Pty Ltd are concerned when the board announces that they are going to sell some land of historical importance to the company. They hold a meeting of shareholders to pass a motion telling the board not to sell the land. The board ignore the motion and say that they have the power to make these decisions and therefore the sale will go ahead.

Discuss the legal situation for both parties with reference to any relevant statutory provisions and cases.

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