48Execution of instruments by or on behalf of corporations

48 Execution of instruments by or on behalf of corporations (1) In favour of a purchaser: (a) a deed is to be taken to have been duly executed by a corporation aggregate if its seal is affixed to the deed in the presence of and attested by its clerk, secretary or other permanent officer, or his or her deputy, together with a member of the board of directors, council or other governing body of the corporation; and (b) if a seal purporting to be the seal of a corporation aggregate has been affixed to a deed attested by persons purporting to be persons holding the offices referred to in paragraph (a), the deed is, subject to section 49, to be taken to have been executed under the requirements of this section and to have taken effect accordingly. (2) The board of directors, council or other governing body of a corporation aggregate may, by resolution or otherwise, appoint an agent, either generally or for a particular case, to execute on behalf of the corporation an agreement or other instrument not under seal made in relation to a matter within the powers of the corporation. Law of Property Act 2000 27 (3) If a person is authorised under a power of attorney or under a statutory or other power to convey an interest in property in the name or on behalf of a corporation sole or corporation aggregate, the person may execute the conveyance as attorney: (a) by signing the person's name in such a way as to show that the person does so as attorney of the corporation in the presence of at least one witness; or (b) in the case of a deed, by executing the deed in accordance with section 47, and the conveyance takes effect and is valid as if the corporation had executed the conveyance. (4) If a corporation aggregate is authorised under a power of attorney or under a statutory or other power to convey property in the name or on behalf of another person (including another corporation), an officer appointed for that purpose by the board of directors, council or other governing body of the corporation, whether by resolution or otherwise and whether generally or for a particular case, may execute the deed or other instrument in the name of the other person and, if an instrument appears to be executed by an officer so appointed, it is, in favour of a purchaser, to be taken to have been executed by an officer duly authorised. (5) Subsections (1), (2), (3) and (4) apply to: (a) transactions effected before or after the commencement of (b) deeds and instruments executed after the commencement of this Act, and, in the case of a power or an appointment of an agent or officer of a corporation, those subsections apply whether the power was conferred or the appointment was made before or after the commencement of this Act or under this Act. (a) authorises a manner of execution or attestation which may be used instead of any manner of execution or attestation authorised by any other law in force in the Territory or by practice or by the charter, memorandum or articles, deed of settlement or other instrument constituting a corporation or regulating the affairs of the corporation; and Law of Property Act 2000 28 (b) does not affect how instruments are validly executed under the Land Title Act 2000, the Instruments Act 1935, the Powers of Attorney Act 1980, the Corporations Act 2001 or any other law in force in the Territory. (7) In this section, purchaser includes the Registrar-General and any other person who has a power or function under an Act to register or record instruments, including instruments executed by corporations.