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s 42

Assumptions

In force
Part 3Legal capacity and powers
Division 3Persons having dealings with co‑operatives

42 Assumptions

(1)

A person may assume that the co‑operative’s rules have been complied with.

(2)

A person may assume that anyone who appears, from information provided by the co‑operative that is available to the public from the Registrar, to be a director or officer of the co‑operative —

(a)

has been properly appointed; and

(b)

has authority to exercise the powers and perform the duties customarily exercised or performed by a director or officer of a similar co‑operative.

(3)

A person may assume that anyone who is held out by the co‑operative to be an officer or agent of the co‑operative —

(a)

has been properly appointed; and

(b)

has authority to exercise the powers and to perform the duties customarily exercised or performed by that kind of officer or agent of a similar co‑operative.

(4)

A person may assume that anyone who is, or may be assumed to be, an officer or agent of the co‑operative who has authority to issue a document or a certified copy of a document on its behalf also has authority to warrant that the document is genuine or is a true copy.

(5)

A person may assume that a document has been duly executed by the co‑operative if it is signed by 2 people, one of whom is, or may be assumed to be, a director of the co‑operative, and the other is, or may be assumed to be, a director or the secretary of the co‑operative.

(6)

A person may assume that a document has been duly executed by the co‑operative if —

(a)

the co‑operative’s seal appears to have been fixed to the document in accordance with Division 4; and

(b)

the fixing of the seal appears to be witnessed by 2 people, one of whom is, or may be assumed to be, a director of the co‑operative, and the other is, or may be assumed to be, a director or the secretary of the co‑operative.

(7)

A person may assume that the officers and agents of the co‑operative properly perform their duties to the co‑operative.

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