All persons who are or may become members of the religious body or denomination of Congregationalists or Independents, and who compose the association called The Congregational Union of New Zealand, from henceforth shall be a body corporate by the name of The Congregational Union of New Zealand, and shall have perpetual succession and a common seal, and under that name may sue and be sued, prosecute and defend, and take all other proceedings in all courts, civil and criminal, within the said colony, and it shall be lawful for the said body corporate to make bylaws and such alterations in the constitution of the said body corporate as may be found from time to time necessary, and it shall be further lawful for the said body corporate to take, purchase, receive, hold, and enjoy real and personal property of any description whatsoever, and also to sell, grant, convey, demise, or otherwise dispose of, either absolutely or by way of mortgage, any of the property, real or personal, belonging to the said body corporate, and generally to exercise, subject to the provisions of this Act, all powers incident to a body corporate; and the executive committee for the time being of the said association shall have the custody and use of the common seal of the said body corporate, and a majority of the members of such committee present at any meeting shall have power to use or direct the use of such seal for all purposes for which the use of such seal is required.