15. Friendly societies, credit unions, industrial unions, industrial organisations or incorporated associations
(1) Stock may be inscribed in the name of any friendly society, or credit union, or industrial union of employers, or industrial union of workers, or other industrial organisation which the Registrar is satisfied is registered under the law of any State or of the Commonwealth, or any branch of a friendly society, industrial union or industrial organisation so registered, or in the name of any organisation or body incorporated under the provisions of any such law relating to the incorporation of associations.
(2) The Registrar shall be furnished by any union, organisation, society or body in whose name stock is inscribed under this regulation with a certificate in a form approved by the Commission containing the names and signatures of 2 or more persons who are appointed to sign any document relating to stock inscribed in the name of that union, organisation, society or body.
(3) Certificates, receipts and other documents relating to stock inscribed under this regulation shall be issued only to such person or persons as are appointed in that behalf.
(4) No transactions in relation to stock inscribed in accordance with this regulation shall be effected unless those transactions are authorised by the persons so appointed, but the Commission shall be under no liability in respect of any such transaction which is, or purports to be, so authorised.
(5) Whenever any person is appointed to replace a person authorised in accordance with a certificate furnished under this regulation, a fresh certificate shall be furnished by the union, organisation, society or body to the Registrar in accordance with this regulation.