(1)The body corporate for an existing 1980 Act plan is taken to have had power on and from 4 May 1994 to give an authorisation to a person as a letting agent.
(2)Subsection (3) applies to a body corporate contract if—
(a)the contract was purportedly entered into before the notification day; and
(b)the contract included the authorisation of a person as a letting agent; and
(c)the body corporate subsequently took or takes action (whether before or after the notification day) that established or establishes the validity of the contract (including the authorisation).
(3)For this division, the contract is taken to have been entered into before the notification day.