16Committee to act on behalf of Trust

16 Committee to act on behalf of Trust

S. 16(1) amended by No. 58/2004 s. 5.

(1) Subject to this Act, the powers and functions of a Trust may be exercised on its behalf by its committee of management and not otherwise, but a committee of management shall comply with the terms and conditions of any resolution relating to the powers and functions of the Trust passed at a general meeting of the Trust.

(2) All acts done in good faith by a committee of management shall, notwithstanding that it is afterwards discovered that there was some defect in the appointment or continuance in office of any member be as valid as if the member had been duly appointed or had duly continued in office.

S. 16(3) amended by No. 8177 s. 3.

(3) Notwithstanding anything to the contrary in subsection (1), a Trust shall be bound by everything done by its committee of management which it is lawful for the Trust to do, and no person dealing with the Trust shall be concerned to inquire in relation to any such act whether the committee is authorized to act as it does.