THIS IS A PROBLEM QUESTION - PLEASE USE IRAC FORMAT Rashid is the Chair of the Board of Directors of Advance Accounting Limited. Advance Accounting Limited is a public company providing accounting services and taxation advice. Advance Accounting Limited is facing fierce competition from a competitor company called RapidAccounts Limited. Rashid decides to hold a meeting of the Board of Directors of Advance Accounting Limited in order to resolve that $100,000 be spent on a contract with an advertising company to run a campaign to make the public more aware of the services provided by Advance Accounting Limited. Pushpa is also a Director of Advance Accounting Limited. Pushpa is opposed to the proposed strategy and votes against it at the meeting of the Board of Directors. At the meeting, Pushpa claims that the strategy will affect the the ability of Advance Accounting Limited to pay its debts when they fall due. All the other Directors support Rashid's resolution and it is passed. Pushpa is the only Director of Advance Accounting Limited to oppose the resolution. Later in the same meeting, Rashid claims that Pushpa is a "spy" for RapidAccounts Limited and is not acting in the best interests of Advance Accounting Limited. Before the end of the meeting, Rashid proposes another resolution that Advance Accounting Limited compulsorily acquire all of Pushpa's shares in Advance Accounting Limited for a price of $7.00 per share. Pushpa had bought theses shares for $2.00 per share and so she would score a healthy profit. However, on the day of the meeting, the stock market price for shares in Advance Accounting Limited was $10.00 per share. The other Directors of Advance Accounting Limited agree with Rashid and the resolution is passed. Rashid and the other Directors claim that this this action is urgent and necessary to prevent Pushpa from causing trouble for Advance Accounting Limited. Rashid and the other Directors then pass a resolution to remove Pushpa as a Director of Advance Accounting Limited because she no longer holds any shares in Advance Accounting Limited. Task You are to: Advise Pushpa on what grounds, if any, she could challenge these decisions of the Board of Directors of Advance Accounting Limited to remove her and to acquire her shares. Advise whether any Director of Advance Accounting Limited has breached their duties. Your answer must refer to relevant legislation and decided cases and be set out using the I.R.A.C. Format. --------------- Tips on How to Answer a Problem Question using the I.R.A.C. Format 1. Read the question carefully 2. Then answer using the I.R.A.C. Format I = ISSUE(S) R = RULES A = APPLICATION C = CONCLUSION I.R.A.C. Format Answer Template I ISSUE(S) What is/are the ISSUE(S)? What are the relevant FACTS? R RULES (legislation and case law) Where in the textbook is/are this/these ISSUE(S) dealt with? Explain the legislation and/or case decisions that is/are relevant to the ISSUE(S). Cite the relevant sections of the legislation and cite the relevant cases and give a summary of their meaning. A APPLICATION APPLY the RULES to the FACTS. Does the current law clearly cover the FACTS in the scenario? Are there important differences that distinguish this scenario from the legislation and/or case law? C CONCLUSION Having researched the law and considered the FACTS provided in the question, now provide your CONCLUSION as to what you think is the correct outcome. e size of 50x50px.