Section 4
Instrument, etc., to be executed or issued by the Corporation
of Housing Development Corporation Ordinance, 2002
—
(1)
All deeds, documents and other instruments requiring the seal of the Corporation shall be sealed with the corporate seal of the Corporation in the presence of the Chairman or Deputy Chairman and the Chief Executive Officer or the Secretary or any other person authorized by the Corporation in that behalf, who shall sign every such deed, document or other instrument to which such seal is affixed, and any deed, document or instrument purporting to be sealed with the corporate seal and signed as herein provided, shall, until the contrary is proved, be deemed to have been validly executed by the
Corporation.
(2)
Any contract, deed or instrument which, if entered into or executed by a person not being a body corporate, would not be required to be under seal, may be entered into or executed on behalf of the Corporation by any person generally or specifically authorized by the Board of Directors for that purpose subject to such restriction or limit as to value or otherwise as may be imposed in such authorization.