3. Directors' Duties (3 marks) Aust. Co Ltd is a new technology company registered in Australia. The board decided to raise fund for the new project. The company's loan application from three different banks was not successful. As an alternative, the company approached individuals who can lend the required fund to the company. One of the individuals who was willing and capable of lending the company is Mr. Peter. Mr. Peter signed the loan agreement with the Aust. Co Lid. As per the Agreement, the Company has to pay interest monthly to Mr. Peter. The interest rate is more than double of the market rate. Mr. Peter is the husband of one of the board members of Aust. Co Lid - Mrs. Eliana. You are required to assess if there is any breach of directors' duties