1964_TRUSTEE_ORDINANCE — Page 19

18

CAP. 29]

Trustee

[1985 Ed.

(3) An instrument creating a power of attorney under this section shall be attested by at least one witness.

(4) Before or within 7 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 duration, the donee of the power, the reason why the power is given and, where some only are delegated, the trusts, powers and discre- tions delegated) to-

(a) each person (other than himself) if any, who under any instrument creating the trust has 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 donee 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 donee in the same manner as if they were the acts or defaults of the doner.

(6) For the purpose of executing or exercising the trusts or powers delegated to him, the donee 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 of any inscribed stock, himself to delegate to an attorney power to transfer but not including the power of delegation conferred by this section.

(7) The fact that it appears from any power of attorney given under this section, or from any evidence required for the purposes of any such power of attorney or otherwise, that in dealing with any stock the donee of the power is acting in the execution of a trust shall not be deemed for any purpose to affect any person in whose books the stock is inscribed or registered with any notice of the trust.

(8) This section applies-

(a) to a personal representative as it applies to a trustee except that subsection (4) shall apply as if it required notice there mentioned to be given to each of the other personal repre- sentatives, if any, except any executor who has renounced probate;

(b) whenever the trusts, powers or discretions in question

arose.

(Replaced, 51 of 1972, s. 8)

Indemnities

Protection against liability in respect of rents and

covenants. 1925 c. 19, s. 26.

28. (1) Where a personal representative or trustee liable as such for-

(a) any rent, covenant, or agreement reserved by or contained

in any lease; or