1987 Ed.]
Powers of Attorney
[CAP. 31
3
i
(a) the transaction between that person and the donee was completed within twelve months of the date on which the power came into operation; or
(b) that person makes a statutory declaration, before or within three months after the completion of the purchase, that he did not at the material time know of the revocation of the power.
(5) Without prejudice to subsection (3), for the purposes of this section knowledge of the revocation of a power of attorney includes knowledge of the occurrence of any event (such as the death of the donor) which has the effect of revoking the power.
(6) In this section-
"purchaser" means-
(a) a purchaser in good faith for valuable consideration;
(b) a lessee, mortgagee or other person who for valuable consideration acquires an interest in property; and
(c) an intending purchaser; and
"valuable consideration" includes marriage but not a nominal consideration in money.
(7) This section applies whenever the power of attorney was created but only to acts and transactions after the commencement of this Ordinance.
(8) No statutory declaration relating to a power of attorney made under subsection (4)(b) at any time after the commencement of the Powers of Attorney (Amendment) Ordinance 1987 shall be sufficient if made before-
(a) a solicitor who acted for the declarant or the donee of the power of attorney in the transaction referred to in subsection (2);
(b) a solicitor acting, or who has acted, for a party in any transaction affected by the statutory declaration;
(c) a partner, clerk or employee of a solicitor mentioned in paragraph (a) or (b); or
(d) a partner, clerk or employee of a partner of a solicitor mentioned in paragraph (a) or (b).
(Added, 34 of 1987, s. 2)
(9) For the avoidance of doubt, it is hereby declared that a statutory declaration made under subsection (4)(b) at any time prior to the commencement of the Powers of Attorney (Amendment) Ordinance 1987 shall not be invalid or otherwise ineffective for its purpose solely by reason of the fact that it was made before any solicitor, partner, clerk or employee mentioned in subsection (8).
(Added, 34 of 1987, s. 2)
(34 of 1987.)
(34 of 1987.)