1.Britney and Celine are directors of Pink Ltd.Pink Ltd is a non-listed public company that is in the music promotions business.It has been running for several years at a massive loss because it has spent enormous amounts of money bringing unpopular 70's musicians to Australia.The "Leo Sayer Downunder Tour" caused a $2 million loss in 2007, the "Rupert Holmes Spectacular" resulted in a $3.5 million loss in 2008, and the "Bee Gees Revival" lost the company $1.9 million in 2009.During the 2010 financial year, things started looking up for Pink Ltd. They signed a contract with an aspiring young talent called Justin Badhair.The Badhair tour attracted enormous crowds and resulted in Pink Ltd generating a $1.1 million profit during the 2010 financial year. Britney and Celine now want to declare a $1 million dividend for their long suffering shareholders. Advise Britney and Celine. Please include any relevant sections of the Corporations Act and or common law in your answers.