Victorian Consolidated Legislation

Trustee Companies Act 1984 - SECT 15

Trustee company may act under power of attorney

15. Trustee company may act under power of attorney



(1) It shall be lawful for a trustee company to act under any power of
attorney by which the trustee company is appointed attorney by any person, and
all the powers conferred upon the trustee company by any such power of
attorney may be exercised and carried into execution by such officers of the
trustee company as it determines.

(2) The capital and all other assets of a trustee company shall be liable for
the due execution of the powers conferred by subsection (1) upon the trustee
company.

(3) This section does not authorize any person to confer any power upon a
trustee company which cannot be legally conferred upon a private individual.