s.7Power to delegate trusts by power of attorney
7
Section 7Part 0 —

Power to delegate trusts by power of attorney

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Notwithstanding any rule of law or equity to the contrary, a trustee may, by power of attorney, delegate for a period not exceeding twelve months the execution or exercise of all or any of the trusts, powers or discretions vested in him as trustee either alone or jointly with any other person or persons.
The persons who may be donees of a power of attorney under this section include a trust corporation but not, unless a trust corporation, the only other co-trustee of the donor of the power.
An instrument creating a power under this section shall be attested by at least one witness.
Before or within seven 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 discretions delegated) to —
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
each of the trustees, if any,
but failure to comply with this subsection shall not, in favour of the person dealing with the donee of the power, invalidate any act done or instrument executed by the donee.
The donor of a power of attorney given under this section shall be liable for the acts or defaults of the donee in the same manner as if they were acts or defaults of the donor.
This section applies to a personal representative and tenant for life as it applies to a trustee except that subsection (4) shall apply as if it required the notice there mentioned to be given —
in the case of a personal representative to each of the other personal representatives, if any, except any executor who has renounced probate; and
in the case of a tenant for life, to the trustees of the settlement and to each person, if any, who, together with the person giving the notice, constitutes the tenant for life.
The fact that it appears from any power of attorney given under this section that in dealing with any stock the donee of a 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.
This section applies whenever the trusts, power or discretions in question arise but does not invalidate anything done and in force at the 7th May, 1979.
In this section — "stock" and "trust corporation" have the meanings accorded to them in section 2 of the Trusts Law (1996 Revision).

Defined Terms

stocktrust corporation

Cross References