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Celine is a Director of Last Chance Ltd, a public company that offers advice on good lifestyles. They have a limited budget at the current

Celine is a Director of Last Chance Ltd, a public company that offers advice on good lifestyles. They have a limited budget at the current time as they have just purchased 3 new shops in the Central Coast of NSW. Bonnie has another shop in a good location which she wants to sell. Bonnie suggests to Celine that Last Chance Ltd should buy the shop for $500,000. Celine realises this is a good deal, but also knows LastChance Ltd could not get finance to buy another shop at this point in time. Celine asks whether she could buy the shop for herself without breaching her duties to the Company. Advise her. Your answer must refer to relevant sections and decided cases.

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