6 Additional protection for transferees under stock exchange transactions.
1
Without prejudice to section 5 of this Act, where—
a
the donee of a power of attorney executes, as transferor, an instrument transferring registered securities; and
b
the instrument is executed for the purposes of a stock exchange transaction,
it shall be conclusively presumed in favour of the transferee that the power had not been revoked at the date of the instrument if a statutory declaration to that effect is made by the donee of the power on or within three months after that date.
2
In this section “registered securities” and “stock exchange transaction” have the same meanings as in the M1Stock Transfer Act 1963.