Trustees Delegation of Powers Act 1915 (NSW)

Editorial note—

The long title was repealed by the Trustee Act 1925.

1–5

(Repealed)

6Validation

Every power of attorney or other delegation by deed executed before the coming into operation of this Act by a trustee residing out of or temporarily absent from New South Wales, or if residing therein about to depart therefrom, delegating to a person residing in New South Wales all or any of the powers, authorities, and discretions vested in such trustee, so far as such powers, authorities, and discretions affect or are capable of being exercised over such of the trust property as is situated in New South Wales, and every deed, act, matter, or thing heretofore or hereafter executed or done by virtue of such power of attorney or other delegation shall be deemed to have been and to be as good, valid, and effectual as if this Act had been in force at the time of the execution of such power of attorney or other delegation.

7, 8

(Repealed)

9Protection for banks, companies and others(1)

The fact that it appears from any power-of-attorney given under or validated by this Act or from any evidence required for the purposes of any such power-of-attorney or otherwise that in dealing with any stock or money in a bank, building society or credit union, the donee of the 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, or in whose hands the money is deposited, with any notice of the trust.

(2)

In this section the expression stock includes shares, and any fund, annuity, or security, transferable in books kept by any person or by any instrument of transfer, either alone or accompanied by other formalities, and any share or interest therein.