Powers of Attorney Act 2000
24Effect of power of attorney for value made irrevocable
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24 Effect of power of attorney for value made irrevocable
If a power of attorney given for valuable consideration is in the instrument creating the power expressed to be irrevocable, the following provisions have effect in favour of a purchaser:
(a) the power is not to be revoked at any time, either by any thing done by the donor of the power without the concurrence of the attorney or by the death, mental incapacity, bankruptcy or insolvency of the donor;
(b) an act done at any time by the attorney, under the power, is as valid as if any thing done by the donor of the power without the concurrence of the attorney had not been done or as if the death, mental incapacity, bankruptcy or insolvency of the donor had not happened;
(c) neither the attorney nor the purchaser is at any time prejudicially affected by notice of any thing done by the donor of the power without the concurrence of the attorney or by notice of the death, mental incapacity, bankruptcy or insolvency of the donor.