6. Provisions in favour of purchaser in case of powers of attorney expressed to be irrevocable for fixed time

(1)

If a power of attorney, whether given for valuable consideration or not, is in the instrument creating the power expressed to be irrevocable for a fixed time specified therein, then, in favour of a purchaser —

(a)

the power shall not be revoked, for and during that fixed 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;

(b)

any act done within that fixed 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

Powers of Attorney

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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 either during or after that fixed time of anything done by the donor of the power during that fixed time, 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 within that fixed time.

(2)

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

Report

Read on from s 7