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

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

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

(cf Corporations Act s 126)

(1) A co-operative’s power to make, vary, ratify or discharge a contract may be exercised by an individual acting with the co-operative’s express or implied authority and on behalf of the co-operative.

(2) The power may be exercised without using a common seal.

(3) This section does not affect the operation of a law that requires a particular procedure to be complied with in relation to the contract.