[F1(1)A registered society or branch may, if its rules so provide, acquire and hold land for the purpose of carrying on any of its activities in the names of its trustees and may dispose of, or otherwise deal with, any land so held; and—
(a)no person shall be bound to enquire as to the authority of the trustees to dispose of or deal with land;
(b)the receipt of the trustees shall be a discharge for all sums of money arising from, or in connection with, the disposal of or other dealing with land.]
(2)A branch of a registered society need not for the purposes of this section be separately registered.
F2(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1S. 53(1) substituted (1.2.1993) by Friendly Societies Act 1992 (c. 40), s. 95, Sch. 16 para.19 (with ss. 7(5) and 93(4)); S.I. 1993/16, art. 2, Sch. 3.
F2S. 53(3) omitted (1.2.1993) by virtue of Friendly Societies Act 1992 (c. 40), s. 95, Sch. 16 para. 19(2) (with ss. 7(5) and 93(4)); S.I. 1993/16, art. 2, Sch. 3, and repealed (1.1.1994) by Friendly Societies Act 1992 (c. 40), s. 120(2), Sch. 22 Pt.I (with ss. 7(5) and 93(4)); S.I. 1993/2213, art. 2, Sch. 6 appendix.