(1) A contract that purports to be made by or on behalf of a registered society at a time when the society has not been registered under this Act has effect, subject to any agreement to the contrary, as one made with the person purporting to act for the society or as agent for it.
(2) Accordingly, the contract is to be treated as -
(a) imposing on that person all the obligations it purports to impose on the society, and
(b) conferring on that person all the rights it purports to confer on the society.
(3) Subsections (1) and (2) apply -
(a) to the making of a deed under the law of England and Wales, and
(b) to the undertaking of an obligation under the law of Scotland, as they apply to the making of a contract.
(4) In subsection (1) -
(a) the reference to a registered society includes a Northern Ireland society, and
(b) the reference to this Act includes the relevant Northern Ireland law.
"Northern Ireland society" and "the relevant Northern Ireland law" have the same meaning as in sec
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