Trustee Ordinance

(1)
Notwithstanding any rule of law or equity to the contrary, a trustee may, by
                power of attorney, delegate the execution or exercise of all or any of the trusts,
                powers and discretions vested in him as trustee either alone or jointly with any
                other person or persons.
(Amended
13 of 2013 s. 19
)
(1A)
A delegation under this
section—
(a)
commences as provided by the instrument creating the power of attorney or,
                    if the instrument makes no provision as to commencement of the delegation, on
                    the date of the execution of the instrument by the donor of the power; and
(b)
continues for a period of 12 months or, if a shorter period is provided by
                    the instrument creating the power of attorney, the shorter period.
(Added
13 of 2013 s. 19
)
(2)
The persons who may be donees of a power of attorney under this section include
                a trust corporation.
(Amended
13 of 2013 s. 19
)
(2A)
If a trust has more than one trustee, the exercise of the power of delegation
                must not result in the trust having only 1 donee under a power of attorney or 1
                trustee administering the trust, unless the donee or trustee is a trust
                    corporation.
(Added
13 of 2013 s. 19
)
(3)
An instrument creating a power of attorney under this section shall be attested
                by at least one witness.
(4)
Before or within 7 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 only some trusts, powers and discretions are delegated,
                the trusts, powers and discretions delegated)
to—
(Amended
13 of 2013 s. 19
)
(a)
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
(b)
each of the other trustees, if any,
but failure to comply with this subsection shall not, in favour of a person
                dealing with the donee of the power, invalidate any act done or instrument executed
                by the donee.
(5)
The donor of a power of attorney given under this section shall be liable for
                acts or defaults of the donee in the same manner as if they were the acts or
                defaults of the donor.
(6)
For the purpose of executing or exercising the trusts or powers delegated to
                him, the donee may exercise any of the powers conferred on the donor as trustee by
                statute or by the instrument creating the trust, including power, for the purpose of
                the transfer of any inscribed stock, himself to delegate to an attorney power to
                transfer but not including the power of delegation conferred by this
                section.
(7)
The fact that it appears from any power of attorney given under this section,
                or from any evidence required for the purposes of any such power of attorney or
                otherwise, that in dealing with any stock 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 with any notice of the
                trust.
(8)
This section
applies—
(a)
to a personal representative as it applies to a trustee except that
                    subsection (4) shall apply as if it required notice there mentioned to be given
                    to each of the other personal representatives, if any, except any executor who
                    has renounced probate;
(b)
whenever the trusts, powers or discretions in question arose.
(9)
This section as in force immediately before the commencement date
#
of the 2013 amending Ordinance continues to apply to a power of attorney created
                before the commencement date
#
, as if this section had not been
                    amended.
(Added
13 of 2013 s. 19
)