(1)This section contains provisions about the execution of documents by a registered society under the law of England and Wales.
(2)A registered society which has a common seal may execute a document by affixing its common seal to it.
(3)A document—
(a)signed by 2 authorised signatories (see subsection (6)), and
(b)expressed (in whatever form of words) to be executed by a registered society,
has the same effect as if it were executed under the society’s common seal.
(4)A document executed by a registered society which makes it clear on its face that it is intended by the person or persons making it to be a deed—
(a)has effect, upon delivery, as a deed, and
(b)is presumed to be delivered upon its being executed by the society, unless a contrary intention is proved.
(5)In favour of a purchaser—
(a)a document is treated as duly executed by a registered society if it purports to be signed by 2 authorised signatories, and
(b)where it makes it clear on its face that it is intended by the person or persons making it to be a deed, is treated as delivered upon its being executed.
“Purchaser” here means a purchaser in good faith for valuable consideration, and includes a lessee, mortgagee or other person who for valuable consideration acquires an interest in property.
(6)For the purposes of this section, in relation to a society—
(a)each of the members of the society’s committee is an authorised signatory, and
(b)the society’s secretary is also an authorised signatory.
(7)Subsections (3) to (5) apply whether or not the society has a common seal.