Section 30
of International Trusts Order, 2000
Section 30
(1)
A trustee may, where it is necessary for the proper administration of the trust notwithstanding any rule of law or equity to the contrary, by power of attorney or any other written instrument delegate to any person outside Brunei Darussalam or to any person in Brunei
Darussalam while any trustee other than a trust corporation is absent from Brunei Darussalam the execution or exercise of all or any trusts, powers and discretions vested in him as such trustee either alone or jointly with any other person.
(2)
Section 3 of the Powers of Attorney Act (Chapter 13) shall not apply to a power of attorney executed pursuant to subsection (1).
(3)
The power of attorney may be in the form of the power of attorney in the First
Schedule with such alterations (if any) as may be appropriate or in any other appropriate form.
(4)
A delegate appointed under this section shall be considered an agent of the trustee for the purposes of sections 29(5) and (6).
(5)
In favour of any person dealing with the delegate, any act done or instrument executed by the delegate shall, notwithstanding that the power has been revoked by the act of the trustee or by his death or otherwise, be as valid and effectual as if the trustee were alive and of full capacity and had himself done such act or executed such instrument, unless such person had actual notice of the revocation of the power before such act was done or instrument executed and provided that such person, having knowledge that he is dealing with a delegate has obtained from the delegate a written declaration that the delegate has received no notice of revocation howsoever arising of his power.
18
BLUV as at 16th December 2010
(6)
For the purpose of exercising the powers delegated to him, the delegate may exercise any of the powers of executing the trusts conferred on the trustee as trustee by law or by the trust instrument, including power for the purpose of the transfer of securities himself to delegate to an attorney a power of transfer but not including the power of delegation conferred by this section.
(7)
The fact that it appears from any power given under this section or otherwise that in dealing with any securities the delegate 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 securities are inscribed or registered with any notice of the trust.
Devolution of powers of trustees.