Powers of Attorney Act · s 5

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5.
Provisions in favour of purchaser in case of powers of attorney given for valuable consideration
(1) If a power of attorney given for valuable consideration is in the instrument creating the power expressed to be irrevocable, then, in favour of a purchaser —

Powers of Attorney

CAP. 13 7
(a) the power shall not be revoked at any time, either by anything done by the donor of the power without the concurrence of the donee of the power, or by the death, marriage, mental disorder, unsoundness of mind or bankruptcy of the donor of the power; and
(b) any act done at any time by the donee of the power, in pursuance of the power, shall be as valid as if anything done by the donor of the power without the concurrence of the donee of the power, or the death, marriage, mental disorder, unsoundness of mind or bankruptcy of the donor of the power, had not been done or happened;
and
(c) neither the donee of the power, nor the purchaser, shall at any time be prejudicially affected by notice of anything done by the donor of the power, without the concurrence of the donee of the power, or of the death, marriage, mental disorder, unsoundness of mind or bankruptcy of the donor of the power.
(2) This section applies to powers of attorney created by instruments executed either before or after the commencement of this Act.

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s 5Provisions in favour of purchaser in case of powers of attorney given for valuable consideration

(1)

If a power of attorney given for valuable consideration is in the instrument creating the power expressed to be irrevocable, then, in favour of a purchaser —

Powers of Attorney

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(a)

the power shall not be revoked at any time, either by anything done by the donor of the power without the concurrence of the donee of the power, or by the death, marriage, mental disorder, unsoundness of mind or bankruptcy of the donor of the power; and

(b)

any act done at any time by the donee of the power, in pursuance of the power, shall be as valid as if anything done by the donor of the power without the concurrence of the donee of the power, or the death, marriage, mental disorder, unsoundness of mind or bankruptcy of the donor of the power, had not been done or happened;

and

(c)

neither the donee of the power, nor the purchaser, shall at any time be prejudicially affected by notice of anything done by the donor of the power, without the concurrence of the donee of the power, or of the death, marriage, mental disorder, unsoundness of mind or bankruptcy of the donor of the power.

(2)

This section applies to powers of attorney created by instruments executed either before or after the commencement of this Act.