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56. Under the law of England and Wales a contract may be made—
(a)by an open-ended investment company by writing under its common seal; or
(b)on behalf of such a company, by any person acting under its authority (whether expressed or implied);
and any formalities required by law in the case of a contract made by an individual also apply, unless a contrary intention appears, to a contract made by or on behalf of such a company.
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