(1)A contract which purports to be made by or on behalf of a registered society at a time when the society has not been registered under this Act has effect, subject to any agreement to the contrary, as one made with the person purporting to act for the society or as agent for it.
(2)accordingly, the contract is to be treated—
(a)as imposing on that person all the obligations it purports to impose on the society; and
(b)as conferring on him all the rights it purports to confer on the society.
(3)Subsections (1) and (2) of this section apply—
(a)to the making of a deed under the law of England and Wales, and
(b)to the undertaking of an obligation under the law of Scotland, as they apply to the making of a contract.]
Textual Amendments
F1 S. 29A inserted (20.10.2003) by Co-operatives and Community Benefit Societies Act 2003 (c. 15) , ss. 4(1) , 7(1) ; S.I. 2003/2678 , art. 2(2) (with art. 2(3) )