58Form and execution of contracts and other documents of

58 Form and execution of contracts and other documents of Institute (1) A deed, instrument, contract or agreement relating to any property or matter that, if made or executed by an individual, would by law be required to be in writing under seal may be made on behalf of the Institute in writing under its common seal. (2) An instrument, contract or agreement relating to any property or matter that, if made by or between individuals, would be required to be in writing signed by the parties to it may be made or entered into on behalf of the Institute in writing by a person acting under the authority, express or implied, of the Council. (3) A contract relating to any property or matter that, if made between individuals, would by law be valid although made or entered into by parole only and not reduced to writing may be made on behalf of the Institute by a person acting under the authority, express or implied, of the Council. (4) A contract entered into or an instrument, contract or agreement signed in relation to any property or obligation of the Institute is to be taken to have been entered into or signed with the express authority of the Council if it is entered into or signed in accordance with a resolution of the Council.