Div 5Transactions

Division 5—Transactions 26—Manner in which contracts may be made (1) Contracts may be made by or on behalf of an incorporated association as follows: (a) a contract which, if made between private persons, would be required to be in writing under seal may be made by the incorporated association under its common seal; (b) a contract which, if made between private persons, would be required to be in writing signed by the parties to be charged may be made on behalf of the association in writing by any person acting under its authority, express or implied; (c) a contract which, if made between private persons, would be valid although made by parol only may be made by parol on behalf of the association by any person acting under its authority, express or implied. (2) A contract may be varied or rescinded by or on behalf of an incorporated association in the same manner as it is authorised to be made. 27—Limitation of doctrine of ultra vires (1) A contract made with an incorporated association is not invalid by reason of any deficiency in the capacity of the association to enter into, or carry out, the contract unless the person contracting with the association has actual notice of the deficiency. (2) An incorporated association that enters into a contract that would, but for the provisions of subsection (1), be invalid is empowered to carry out the contract. (3) This section does not prejudice an action by a member of an incorporated association to restrain the association from entering into or carrying out a transaction that lies beyond the powers conferred on the association by this Act or its rules. 28—Abolition of doctrine of constructive notice in relation to incorporated association It is not to be presumed that a person dealing with an incorporated association, or an agent of an incorporated association, has notice of the rules of the association, or of any other document registered by, or lodged with, the Commission in relation to the association.