Article 11 - Corporate capacity
(1) An Investment Club has separate legal personality from its Members.
(2) An Investment Club has the capacity, rights and privileges of a natural person and, without limitation, may enter into contracts, sue and be sued and own assets.
(3) In favour of a person who in good faith is a party to any transaction or other act to which an Investment Club is party, the power of the directors of an Investment Club to bind the Investment Club, or authorise others to do so, shall be deemed free of any limitation under the Investment Club's articles of association.
(4) A contract may be made, varied or discharged on behalf of an Investment Club by any person acting under its authority, express or implied.
(5) A Document is executed by an Investment Club if signed by two directors, or one director and the secretary of an Investment Club and expressed (in whatever form of words) to be executed by the Investment Club, provided that such director or secretary were authorised by the Investment Club to sign such Document.
|Derived (as from 20th December 2016).|