The board of directors of Sunrise Limited (‘SL’), a public limited company, in their next board meeting plan on authorising:(a) The appointment of TAQ International as its sole distributor for Karachi. Mr Kamal Dawood, who is the managing partner of TAQ International and a director of SL, is the moving spirit behind this.(b) Extension of the repayment time for a loan extended to Mr Kamal Dawood.Required:With reference to company law, explain to the board of directors of SL the procedures for adopting the above plans. (10 marks)