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Co-operatives National Law (Queensland)
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Turn the raw legal text into a practical explanation grounded in Co-operatives National Law (Queensland).
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. The power may be exercised without using a common seal. This section does not affect the operation of a law that requires a particular procedure to be complied with in relation to the contract. (sec.50-ssec.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. (sec.50-ssec.2) The power may be exercised without using a common seal. (sec.50-ssec.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.