Flywell Ltd is the owner of an Australian domestic airline. The Australiantravel market is very competitive. The management of Flywell Ltd isconcerned about the plans of a rival airline company intending to expandits Australian domestic operations. The board of directors of Flywell Ltddecides to revamp its fleet of aircraft and purchase extra planes, but thecompany does not have the capital. Flywell Ltd wishes to induce eachinvestor to invest $10,000 with the company in exchange for shares in thecompany. The company aims to raise between $9 million and $11 million innew funds. The company has approached you for advice.1. Advise Flywell Ltd of its fundraising obligations under the CorporationsAct, paying particular attention to the specified facts.Fundraisingobligations:Whatarethefundraisingobligationsofthecompany?