
That no such Association or Copartnership already formed, or which may be hereafter formed, nor any Contract either as, between the Members, Partners, or Shareholders composing such Association or Copartnership for the Purposes thereof, or as between such Association or Copartnership and other Persons, heretofore entered into or which shall be entered into by any such Association or Copartnership already formed or hereafter to be formed, shall be deemed or taken to be illegal or void, or to occasion any Forfeiture whatsoever, by reason only of any such Spiritual Person as aforesaid being or having been a Member, Partner, or Shareholder of or otherwise interested in the same; but all such Associations and Copartnerships shall have the same Validity, and all such Contracts shall and may be enforced in the same Manner, to all Intents and Purposes, as if no such Spiritual Person had been or was a Member, Partner, or Shareholder of or interested in such Association or Copartnership :
Provided always, that it shall not be lawful for any Spiritual Person holding any Cathedral Preferment, Benefice, Curacy, or Lectureship, or who shall be licensed or allowed to perform the Duties of any Ecclesiastical Office, to act as a Director or managing Partner, or to carry on such Trade or Dealing as aforesaid in Person.
II 
And be it enacted, That in all Actions and Suits which shall have been brought or instituted by or on behalf of any such Association or Copartnership which may have been formed since the End of the Session of Parliament held in the Second and Third Years of the Reign of Her present Majesty, in case any Defendant therein shall, before the Twenty-ninth Day of March One thousand eight hundred and thirty-eight, by Plea or otherwise, have insisted on the Invalidity of any Contract thereby sought to be enforced, by reason of any such Spiritual Person as aforesaid being or having been a Member or Shareholder in such Association or Copartnership, such Defendant shall be entitled to the full Costs of such Plea or other Defence, to be paid by the Plaintiff, and to be taxed as the Court in which the said Action or Suit shall be depending, or any Judge thereof, shall direct; and in order fully to indemnify such Defendant it shall be lawful for such Court or Judge to order the Plaintiff to pay to him such further Costs (if any) of the said Action or Suit as the Justice of the Case may require.
III 
And be it enacted, That this Act may be amended or repealed by any Act to be passed in this present Session of Parliament.