5
Execution of instruments, eta. by dopee of power of
attorney.
1971, c. 27, x. 7.
Effect of
general power
of attorney
in specified
form
Schedule.
1971. c. 27. 8. 10.
(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 attomey was created but only to acts and transactions after the commencement of this Ordinance,
ft
6. (1) The donce of a power of attorney may, if he thinks
(a) execute any instrument with his own signature and, where scaling is required, with his own seal; and
(b) do any other thing in his own name,
by the authority of the donor of the power; and any document executed or thing done in that manner shall be as effective as if executed or done by the donge with the signature and seal, or. as the case may be, in the name, of the donor of the power.
(2) For the avoidance of doubt it is hereby declared that an instrument may be executed on behalf of a person by a dones of a power of attorney either as provided in this section or as provided in any other Ordinance.
(3) This section is without prejudice to a provision in any other Ordinance requiring an instrument to be executed by a per- son specified therein.
(4) This section applies to powers of attorney whenever created.
7. (1) Subject to subsection (2), a general power of attorney in the form set out in the Schedule, or in a form to the like effect but expressed to be made under this Ordinance, shall operate to confer-
(a) on the donee of the power; or
(b) if there is more than one donce, on the donees acting jointly or acting jointly or severally, as the case may be, authority to do on behalf of the donor anything which he can lawfully do by an attorney.
(2) This section does not apply to functions which the donor bas as a trustee or personal representative.
8. (1) Section 27 of the Trustee Ordinance is repealed and replaced by the following-
"Power to delegate trusts.
lal. 1971, c. 27,
■ 9.1 [4. 1925, s. 19. M. 25.5
27. (1) Notwithstanding any rule of law or equity to the contrary, a trusted may, by power of attorney. delegate for a period not exceeding twelve months the execution or exercise of all or any of the trusts, powers and discretions vested in him as trustee either alone or jointly with any other person or persons.
(2) The persons who may be donees of a power of attorney under this section include a trust corpora- tion but not (unless a trust corporation) the only other co-trustee of the donor of the power.
(3) An instrument creating a power of attorney under this section shall be attested by at least one witness.
(4) Before or within seven days after giving a power of attorney under this section the donor shall give written notice thereof (specifying the date on which the power comes into operation and its dura- tion, the dones of the power, the reason why the power is given and, where some only are delegated. the trusts, powers and discretions delegated) to-
(a) each person (other than himself) if any, who under any instrument creating the trust bas power (whether alone or jointly) to appoint a new trustee; and
(b) each of the other trustees, if any; but failure to comply with this subsection shall not. in favour of a person dealing with the dones of the power, invalidate any act done or instrument executed by the donee.
(5) The donor of a power of attorney given under this section shall be liable for acts or defaults of the donec in the same manner as if they were the acts or defaults of the donor.
(6) For the purpose of executing or exercising the trusts or powers delegated to him, the donce may exercise any of the powers conferred on the donor as trustee by statute or by the instrument creating the trust, including power, for the purpose of the transfer
Amendment of Trustee Ordinance.
Op. 29.)
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