(1)Contracts may be made, varied or discharged on behalf of a registered society as follows:—
(a)a contract which, if made between individuals, would be by law required to be[F1 executed as a deed] may be made, on behalf of the registered society in writing under the common seal of the society;
(b)a contract which, if made between individuals, would be by law required to be in writing, signed by the parties to be charged therewith, may be made on behalf of the society in writing by any person acting under the express or implied authority of the society;
(c)a contract which, if made between individuals, would by law be valid although made by parol only, and not reduced into writing, may be made by parol on behalf of the society by a person acting under the express or implied authority of the society;
(d)a contract made according to this subsection may be varied or discharged in the same manner in which it is authorised by this section to be made and a contract[F1 executed as a deed] which, if made between individuals, might be varied or discharged in writing not[F1 executed as a deed], signed by any person interested therein, may be similarly varied or discharged on behalf of the society by a writing not under seal, signed by any person acting under the express or implied authority of the society.
(2)A signature purporting to be made by a person holding any office in a registered society attached to a writing whereby any contract purports to be made, varied or discharged by or on behalf of the society shall, until the contrary is proved, be taken to be the signature of a person holding that office at the time when the signature was made.
(3)A contract which may be or have been made, varied or discharged according to the provisions contained in this section shall be effectual in law and bind the society and its successors and all other parties thereto.