1972-HKRS28-16-20_Part03 — Page 38

Proof of instruments creating powers of attorney. 1971. c. 27, a 3.

(CAP) 1593

Powers of attorney given as security. 1971, 4. 27, n. 4.

of instruments creating powers of attorney and does not affect the rules relating to the execution of instruments by corporations.

3. (1) The contents of an instrument creating a power of attorney may be proved by means of a copy which-

(a) is a reproduction of the original made with a photo- graphic or other device for reproducing documents in facsimile; and

(b) contains the following certificate or certificates signed by the donor of the power or by a solicitor, that is to say-

(i) a certificate at the end to the effect that the copy is a true and complete copy of the original; and

() if the original consists of two or more pages, a certificate at the end of each page of the copy to the effect that it is a true and complete copy of the cor- responding page of the original.

(2) Where a copy of an instrument creating a power of attorney has been made which complies with subsection (1), the contents of the instrument may also be proved by means of a copy of that copy if the further copy itself complies with that subsection, taking references in it to the original as references to the copy from which the further copy is made.

(3) In favour of a person acting in good faith a signature on a certificate under subsection (15) purporting to be that of a person described as being a solicitor shall, until the contrary is proved, be deemed sufficient for the purposes of this section.

(4) This section is without prejudice to any other method of proof authorized by any other Ordinance.

(5) In this section "solicitor" means a person who is en- rolled on the roll of solicitors kept under the Legal Practitioners Ordinance and who, at the material time, is not suspended from practice.

4. (1) Where a power of attorney is expressed to be irrevo- cable and is given to secure-

(a) a proprietary interest of the dones of the power; or (b) the performance of an obligation owed to the donee, then, so long as the donec has that interest or the obligation remains undischarged, the power shall not be revoked-

() by the donor without the consent of the donce; or (i) by the death, incapacity or bankruptcy of the donor or,

if the donor is a corporation, by its winding up or dissolution.

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(2) A power of attorney given to secure a proprietary interest may be given to the person entitled to the interest and persons deriving title under him to that interest, and those persons shall be duly constituted donees of the power for all purposes of the power but without prejudice to any right to appoint substitutes given by the power.

(3) This section applies to powers of attorney whenever created.

5. (1) A donec of a power of attorney who acts in pursO- ance of the power at a time when it has been revoked shall not. by reason of the revocation, incur any liability (either to the donor or to any other person) if at that time he did not know that the power had been revoked.

(2) Where a power of attorney has been revoked and a person, without knowledge of the revocation, deals with the donee of the power, the transaction between them shall, in favour of that person, be as valid as if the power had then been in existence.

(3) Where the power is expressed in the instrument crealing it to be irrevocable and to be given by way of security then, unless the person dealing with the donee knows that it was not in fact given by way of security, he shall be entitled to assume that the power is incapable of revocation except by the donor acting with the consent of the donee and shall accordingly be treated for the purposes of subsection (2) as having knowledge of the revoca- tion only if he knows that it has been revoked in that manner.

(4) Where the interest of a purchaser depends on whether a transaction between the donee of a power of attorney and an- other person was valid by virtue of subsection (2), it shall be conclusively presumed in favour of the purchaser that that person did not at the material time know of the revocation of the power

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(4) 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 revoca- tion 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.

Protection of donee and third persons where power of attorney is revoked. 1971, 4. 27, §. 3.