(1) Any act that a participating institution that is a member of a participating group may do under, or for the purposes of, this Act (other than this Division) may be done by the representative for the group on behalf of that institution.
(2) Any act that is done by the representative for a participating group on behalf of a participating institution that is a member of the group has effect, for the purposes of this Act (other than this Division) as if it had been done by that institution.