Party secretary may enter into loan on behalf of party

1 A party may enter into a loan only with the authorisation of the party secretary. 2 Only the party secretary may enter into a loan on behalf of the party. 3 If the party secretary enters into a loan that is not in writing, the party secretary must, as soon as is reasonably practicable, make a written record of the loan. 4 A loan entered into in contravention of this section is an illegal contract for the purposes of subpart 5 of Part 2 of the Contract and Commercial Law Act 2017 . Section 213 : inserted , on 25 March 2014 , by section 41 of the Electoral Amendment Act 2014 (2014 No 8). Section 213(4) : amended , on 1 September 2017 , by section 347 of the Contract and Commercial Law Act 2017 (2017 No 5).