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Powers of Attorney Act 1971

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This is the original version (as it was originally enacted).

6Additional 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it shall be conclusively presumed in favour of the transferee that the power had not been revoked at the date of the instrument if a statutory declaration to that effect is made by the donee of the power on or within three months after that date.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 [1963 c. 18.] Stock Transfer Act 1963.

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