A private limited company has adopted the Model Articles of Association without amendment. The company has three directors. Two of the directors attend a board meeting to vote on a substantial property transaction. One of the attending directors is also a majority shareholder in the company selling the property. What is the legal position regarding the board meeting's quorum?
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A
The meeting is quorate as two directors are physically present, which satisfies the Model Articles.
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B
The meeting is not quorate because the interested director cannot be counted for the quorum on this matter.
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C
The meeting is quorate, but any resolution passed is voidable at the option of the company.
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D
The meeting is only quorate if the interested director declares their interest and the other director agrees to proceed.