Mask, Vaccina and Sanitiza are the directors and shareholders of Disaster Bhd. (hereinafter known as the company). Socid is employed as the company secretary. Mask wants to sell all his shares in the company and vacate his office as a director. Vaccina is interested to purchase the shares of Mask but lack the funds to do so.

Required:

(a) Explain whether the company is allowed under the Companies Act 2016 to give a loan to Vaccina to enable her to purchase the shares of Mask. (4 marks)

(b) Explain whether Vaccina can obtain a loan from a bank to purchase the shares of Mask, with the company providing security for the loan in the form of a charge over its property. (2 marks)

(c) Explain whether the company is allowed under the Companies Act 2016 to give a loan to Socid to enable him to buy the shares of Mask. (4 marks)