Part 2
Constitution of building societies
Functions and general powers of building societies
9EDealings between society and other persons
A society or a guarantor of an obligation of a society may not assert against a person dealing with the society or with any person who has acquired any property, rights, or interests from the society that—
- the rules of the society have not been complied with:
- a person named in a notice sent to the Registrar under section 88 as a director or secretary of the society—
- is not a director or secretary of the society, as the case may be; or
- has not been duly appointed; or
- does not have authority to exercise a power which a director or secretary of a society carrying on business of the kind carried on by the society customarily has authority to exercise:
- is not a director or secretary of the society, as the case may be; or
- a person held out by the society as an officer or agent of the society—
- has not been duly appointed; or
- does not have authority to exercise a power which an officer or agent of a society carrying on business of the kind carried on by the society customarily has authority to exercise:
- has not been duly appointed; or
- a person held out by the society as an officer or agent of the society with authority to exercise a power which an officer or agent of a society carrying on business of the kind carried on by the society does not customarily have authority to exercise, does not have authority to exercise that power:
- an officer or agent of the society who has authority to issue a document on behalf of the society does not have authority to warrant that the document is genuine:
- an officer or agent of the society who has authority to issue a certified copy of a document on behalf of the society or otherwise certify on behalf of the society does not have authority to warrant that the copy is a true copy or to so certify—
A society or a guarantor of an obligation of a society may not assert against a person dealing with the society or with any person who has acquired any property, rights, or interests from the society that a document has not been properly sealed by the society if—
- the document is sealed with a seal which appears to be the seal of the society; and
- the affixing of the seal appears to have been witnessed by 2 persons; and
- at the time the document appears to have been sealed—
- one of those persons was named in a notice sent to the Registrar under section 88, or was being held out by the society, as a director of the society; and
- the other person was named in a notice sent to the Registrar under section 88, or was being held out by the society, as a director or secretary of the society—
unless that person knows or by reason of that person's position with or relationship to the society ought to know that—
- one of those persons was named in a notice sent to the Registrar under section 88, or was being held out by the society, as a director of the society; and
- the seal is not the seal of the society; or
- the affixing of the seal was not witnessed by 2 persons; or
- a person referred to in paragraph (c)(i) was not a director of the society; or
- a person referred to in paragraph (c)(ii) was not a director or secretary of the society, as the case may be.
Notes
- Section 9E: inserted (with effect on 1 January 1966, but not applying to or affecting any proceedings instituted or commenced before 1 September 1987), on , by section 4(1) of the Building Societies Amendment Act 1987 (1987 No 175).