39Power to form companies and enter into joint ventures

39 Power to form companies and enter into joint ventures

Division 2 Doctrine of ultra vires not to apply

40 Interpretation

41 Doctrine of ultra vires not to apply

42 Legal capacity

43 Rules may limit powers and set out objects

Division 3 Persons having dealings with co-operatives

44 Entitlement to make assumptions

45 Assumptions

46 Person who knows or ought to know cannot make assumptions

47 Filing of documents not to constitute constructive knowledge

48 Effect of fraud

Division 4 Execution of documents

49 Execution of documents by co-operative

50 Agent exercising co-operative’s power to make contracts

51 Other requirements as to consent or sanction not affected

Division 5 Pre-registration contracts

52 Contracts before registration

53 Person may be released from liability but is not entitled to indemnity

54 This Division replaces other rights and liabilities

Part 2.3 Rules

Division 1 Rules of a co-operative

55 Effect of rules

56 Content of rules

57 Purchase and inspection of copy of rules

58 False copies of rules

59 Rules can only be amended under this Law

60 Approval of certain rule amendments

61 Amendment by special resolution

62 Amendment by resolution of board

63 Amendment does not take effect until registered

Division 2 Model rules

64 Model rules

65 Adoption of model rules

66 Relationship of this Division to Division 1

Part 2.4 Shares

Division 1 Nature of share