Change 1 Article Choose an article Title and introductory text 1 Meaning of “registered society” 2 Societies that may be registered 3 Registration 4 Registration etc: special cases 5 Cancellation of registration: conditions for cancellation 6 Cancellation of registration: procedure and effect 7 Cancellation of registration: additional procedure in cases involving condition D 8 Suspension of registration 9 Appeal against refusal to register or cancellation or suspension of registration 10 A society's name 11 Registered name to be displayed and used 12 Charitable status to appear on documents etc 13 Change of name 14 Content of a society's rules 15 Rules to bind members 16 Amendment of rules 17 Appeal against refusal to register amendment of rules 18 Duty to provide copy of rules on demand 19 Provision of rules with intent to mislead or defraud 20 Creation of offences by a society's rules 21 Rules as to fund for purchase of government securities 22 Rules of agricultural, horticultural or forestry society may provide for loans without security 23 Supplementary provisions as to rules 24 Maximum interest in a society's withdrawable shares 25 Power to amend limit in section 24 26 Power to hold land etc 27 Power to invest 28 Proxy voting by societies 29 Power to restrict use of assets of a community benefit society 30 Register of members and officers 31 Members under 18 32 Bodies corporate may be members 33 Society a member of another society: references to members making and signing documents etc 34 Advances to members 35 Remedies for members' debts 36 Payments in respect of persons lacking capacity 37 Nomination by member of entitlement to property in society on member's death 38 Section 37: variation and revocation of nominations 39 Section 37: procedure on death 40 Death of member: distribution of property not exceeding £5,000 41 Security to be given by certain officers 42 Duty of certain officers and employees to account 43 Capacity of a society and relationship with its rules 44 Special resolutions under section 43 45 Power of committee to bind society 46 No duty to enquire as to capacity of society or authority of committee 47 Application of sections 43 and 45 to charitable societies 48 Transactions with committee members etc in excess of powers 49 Section 48: definitions 50 Common seal 51 Power of society to have official seal for use abroad 52 Authorisation of use of official seal 53 Methods for execution of documents: England and Wales 54 Method for execution of contracts under seal: England and Wales 55 Execution of documents: Scotland 56 Execution of documents: presumption of validity of officer's signature 57 Contracts, deeds and obligations made before registration of society 58 Bills of exchange and promissory notes 59 Charges on assets of English and Welsh societies 60 Section 59: power to extend time for making application or to rectify errors 61 Notification of transactions relating to charges recorded under section 59 62 Floating charges created by Scottish societies 63 Filing of information relating to charges created by virtue of section 62 64 Notification of charges etc: Scotland 65 English and Welsh societies: restriction on appointment of administrative receiver 66 Duty to account etc of receiver or manager of a society's property 67 Registered society with withdrawable share capital not to carry on banking etc 68 Power to amend figures in section 67(2) 69 Society carrying on banking must display statement 70 Section 69: form of statement 71 Discharge of mortgages of property in England and Wales 72 Discharge of securities: land in Scotland 73 Discharge of securities: other property in Scotland 74 Receipt on payment of moneys secured to a society 75 Duty to keep books of account etc 76 Form of books of account 77 Year of account: societies registered on or after 8 January 2012 78 Year of account: societies registered on or before 7 January 2012 79 Duty to prepare revenue accounts 80 Accounts and balance sheets to give a true and fair view 81 Duty to display latest balance sheet at registered office 82 Restrictions on publication of accounts and balance sheets 83 Duty to appoint auditors 84 Power of certain societies to disapply section 83 85 Duty to obtain report in certain cases where section 83 is disapplied 86 Power to require accounts etc for past years to be audited by qualified auditor 87 Auditors: content of report and powers 88 Persons appointed under section 82 or 85: powers etc 89 Annual returns 90 Duty to provide copy of annual return on demand 91 Meaning of “qualified auditor” 92 Persons ineligible for appointment as auditors etc 93 Re-appointment and removal of qualified auditors 94 Resolutions relating to appointment or removal of auditors 95 Resolutions relating to auditors: auditors' representations 96 Section 95: provision of auditor's representations by making available on website 97 Remuneration of qualified auditors 98 Group accounts 99 Section 98: exceptions 100 Meaning of company being a “subsidiary” of a society 101 Meaning of society being a “subsidiary” of another society 102 Interpretation of Part 7 103 Power of members etc to inspect own account and society's register 104 Power of society to make rules authorising inspection of books 105 Power of FCA to appoint accountant or actuary to inspect a society's books 106 Appointment of inspectors and calling of special meetings 107 Section 106: examinations and special meetings 108 General restriction on inspection of books 109 Amalgamation of societies 110 Transfer of engagements between societies 111 Special resolutions under section 109 or 110 112 Conversion of society into a company, amalgamation with a company etc 113 Special resolutions under section 112 114 Conversion of society into a company: supplementary 115 Conversion of company into a registered society 116 Conversion of company into a society: member's shareholding in company exceeds maximum permitted amount 117 Conversion of company into a society: no effect on liabilities 118 Power to apply provisions about company arrangements and administration etc 119 Dissolution of society by an instrument of dissolution 120 Special resolutions under section 119 121 Instruments of dissolution: notification to FCA etc 122 Instruments of dissolution: advertisement, dissolution etc 123 Dissolution of society on winding up 124 Liability of existing and former members in winding up 125 Dissolution following administration 126 Dissolution etc to occur only after society's property dealt with 127 General offences 128 Offences by societies to be also offences by officers etc 129 Continuing offences 130 Misappropriation of a society's property etc 131 Falsification of a society's records etc 132 Prosecution of offences: persons who may bring proceedings and time for bringing them 133 Prosecution of societies: service of summons etc 134 Power to amend this Act to assimilate to company law 135 Power to apply company law provisions on investigations, names and dissolution etc 136 Section 135: power to make consequential amendments 137 Determination of disputes in accordance with a society's rules 138 Determination of disputes under section 137: application to the court 139 Determination of disputes otherwise than under a society's rules 140 Determination of disputes: supplementary 141 Recovery of costs and expenses 142 Northern Ireland societies to be treated as registered societies 143 Form of documents etc 144 Form etc of electronic documents sent to FCA or PRA 145 Fees for inspection and copying of documents 146 Certain documents to be received in evidence 147 Regulations and orders 148 Meaning of “electronic form”, “by electronic means” etc 149 Interpretation of Act 150 Pre-commencement societies 151 Amendments, repeals etc 152 Channel Islands 153 Extent 154 Commencement 155 Short title SCHEDULE 1 Forms of bond for officers of society SCHEDULE 2 Form of receipt on mortgage, heritable security etc SCHEDULE 3 Provision for certain pre-commencement societies SCHEDULE 4 Consequential amendments SCHEDULE 5 Transitionals and savings SCHEDULE 6 Transitory modifications etc SCHEDULE 7 Repeals and revocations
What to do with it
As published
54 Method for execution of contracts under seal: England and Wales
(1) A contract which, if made between individuals, would be by law required—
(a) to be in writing, and
(b) to be under seal (if made according to the law of England and Wales),
may be made, varied or discharged on behalf of a registered society in writing under its common seal.
(2) This section does not affect the application of the Corporate Bodies' Contracts Act 1960.
(3) This section does not apply to Scotland.
Your wording
Your change, as a redline
54 Method for execution of contracts under seal: England and Wales
(1) A contract which, if made between individuals, would be by law required—
(a) to be in writing, and
(b) to be under seal (if made according to the law of England and Wales),
may be made, varied or discharged on behalf of a registered society in writing under its common seal.
(2) This section does not affect the application of the Corporate Bodies' Contracts Act 1960.
(3) This section does not apply to Scotland.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.