Moana Pty Ltd operates a commercial sailboat construction business and has two directors, Te Fiti and Sina. Heihei is the company secretary and…

Moana Pty Ltd operates a commercial sailboat construction business and has two directors, Te Fiti and Sina. Heihei is the company secretary and marketing manager. The company employs 52 full time employees and has consolidate gross assets of $A15m. The company’s constitution provides that documents may be executed without a common seal but that they must be signed either by both of the directors or by one of the directors and the company secretary.
Discuss whether Moana Pty Ltd is liable for any of these contracts. Is Heihei liable for any of these contracts? Is Sina liable for any of these contracts?
Given Heihei has resigned does Moana Pty Ltd need to appoint another company secretary?
If Moana Pty Ltd downsized its workforce by 10 full time staff would this effect its Corporations Act status?

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