| Commentary

13 Ultra vires

| Commentary

13 Ultra vires

The Building Societies Act 1997 introduced provisions1 into the Building Societies Act 1986 that put building societies and companies2 on a similar footing as regards the ultra vires rule. The validity of an act done by a building society is not to be called into question on the ground of lack of capacity by reason of anything included in the building society’s memorandum3. In favour of a person dealing with the building society in good faith, the power of the directors to bind the society or to authorise others to do so is

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