Part I Constitution and powers

3 Capacity etc.

(1)

In subsection (8) of section 5 of the 1986 Act—

(a)

for paragraph (b) there shall be substituted the following paragraph—

“(b)

Part II makes provision with respect to the capacity of a society and the powers of its directors to bind it; and”; and

(b)

for the words from “and in this section” to the end there shall be substituted the words “ and in this section “scheduled”, with reference to requirements for establishment, means contained in that Schedule ”.

(2)

For Part II of Schedule 2 to the 1986 Act there shall be substituted the provisions set out in Schedule 1 to this Act (capacity of society and power of directors to bind it).