Part 5Powers

Part 5—Powers 57—Disclaimer etc of powers (1) Any person to whom any power, whether coupled with an interest or not, is given may by deed disclaim, release, or contract not to exercise the power, and after such disclaimer, release, or contract shall not be capable of exercising or joining in the exercise of the power. (2) On such disclaimer, release, or contract the power may be exercised by the other person or persons or the survivor or survivors of the other persons to whom the power is given unless the contrary is expressed in the instrument creating the power. 57A—Validation of appointments where objects are excluded or take illusory shares (1) Subject to subsections (2) and (3) of this section, no appointment purported to be made in exercise of any power to appoint any property among two or more objects shall be invalid on the ground that— (a) an unsubstantial, illusory or nominal share only is appointed or left unappointed to devolve upon any object of the power; or (b) any object of the power is thereby altogether excluded. (2) Subsection (1) of this section shall not affect any provision in the instrument creating the power which indicates the amount or proportion of any share from which any object of the power is not to be excluded. (3) Subsection (1) of this section shall apply only— (a) to any appointment purported to be made after the enactment of this section, in exercise of a power created before or after the enactment of this section; and (b) to any appointment purported to be made by a will executed before the enactment of this section, if the testator dies after the enactment of this section. 58—Execution of powers not testamentary (1) A deed executed in the presence of and attested by two or more witnesses (in the manner in which deeds are ordinarily executed and attested) shall so far as respects the execution and attestation thereof, be a valid execution of a power of appointment by deed or by any instrument in writing, not testamentary, notwithstanding that it is expressly required that a deed or instrument in writing, made in exercise of the power, is to be executed or attested with some additional or other form of execution or attestation or solemnity. (2) This section shall not operate to defeat any direction in the instrument creating the power that— (a) the consent of any particular person is to be necessary to a valid execution; (b) in order to give validity to any appointment, any act is to be performed having no relation to the mode of executing and attesting the instrument. (3) This section shall not prevent the donee of a power from executing it in accordance with the power by writing, or otherwise than by an instrument executed and attested as a deed; and where a power is so executed this section shall not apply.