PART 4CIO CAPACITY AND RELATED MATTERS
Execution of documents20
1
A document is executed by a CIO—
a
by the affixing of its common seal; or
b
whether or not the CIO has a common seal, in accordance with paragraph (2).
2
A document is validly executed by a CIO if it is signed—
a
where the CIO has more than one charity trustee, by at least two of the CIO’s charity trustees; or
b
where the CIO has only one charity trustee, by that charity trustee.
3
A document—
a
signed in accordance with paragraph (2); and
b
expressed, in whatever words, to be executed by the CIO,
has the same effect as if executed under the common seal of the CIO.
4
In favour of a purchaser a document is to be treated as duly executed by a CIO if it purports to be signed in accordance with paragraph (2).
5
For the purposes of paragraph (4), “purchaser” 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
References in this regulation to a document being (or purporting to be) signed by a charity trustee are to be read, in a case where a body corporate is a charity trustee, as references to the document being (or purporting to be) signed by an individual authorised by the body corporate to sign on its behalf.