BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 219
Restriction on powers of attorney in favour of seller
BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 219
Restriction on powers of attorney in favour of seller
219 Restriction on powers of attorney in favour of seller
(1) If the buyer gives the seller a power of attorney to act for the buyer,
the power may be exercised only in ways, and only for purposes, disclosed in a
written statement given to the buyer before the power is given.
(2) The
statement must include a detailed description of the circumstances in which
the power may be exercised.
(3) A power of attorney mentioned in subsection
(1) , unless it sooner expires, expires 1 year after the scheme is established
or changed.
