The board of XYZ (Pty) Ltd begins business rescue proceedings on 1 March 2022. They believe although the company is financially distressed the company can be rescued. The resolution was filed with the CIPC on 6 March 2022. The company published a notice of the resolution to every affected person and appointed a business rescue practitioner, Mrs. Gifted on 10 March 2022. The company filed the name of the business rescue practitioner with the CIPC on 13 March 2022, as well as notified the affected persons of the notice of appointment on 17 March 2022. The business rescue practitioner is a great fit for XYZ (Pty) Ltd, Mrs. Gifted (wife of the Finance Director) is a good-standing member of SAICA, is not disqualified from acting as a director for the company, and does not have any business relationship with the company. She also knows everything about the business through her connection with Mr. Gifted. Mrs. Gifted advised one of the board members that a business rescue practitioner has the right to remove staff members e.g., the Operations Manager if she deems it necessary. 2.1 Define the following terms: - Affected person - Business rescue - Financially distressed - Business rescue practitioner (6 marks) 2.2 Discuss the resolution by XYZ (Pty) Ltd to begin rescue proceedings. Comment on the process followed by XYZ (Pty) Ltd and whether all requirements were met. (18 marks) 2.3 Discuss the eligibility of the appointed practitioner. (8 marks) 2.4 Discuss the powers and duties of a practitioner to remove staff, e.g. the Operations Manager of XYZ (Pty) Ltd as commented by Mrs. Gifted