(1) This section establishes a New Zealand Society of Conveyancers.
(2) The New Zealand Society of Conveyancers is a body corporate with perpetual succession and a common seal, and, except as provided in this Act, has and may exercise—
(a) all the rights, powers, and privileges, and may incur all the liabilities and obligations, of a natural person of full age and capacity; and
(b) the power to do any other thing it is authorised to do—
(i) by this Act; or
(ii) by any other enactment; or
(iii) by any rule of law.
(3) The New Zealand Society of Conveyancers may not exercise any of its rights, powers, or privileges except for the purpose of performing its functions.