The directors of XYZ Limited have resolved that the company is in a critical financial situation and shall soon be unable to pay its debts. The company should be able to recover its financial stability within the short-term.Required:Advise the directors of XYZ Limited:(a) whether they may apply for corporate recovery in terms of the provisions of the Companies Act, 1995; and (5 marks)(b) the role of the special controller in such a procedure. (5 marks)