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Corporate Power of attorney

Discussion in 'Legal Issues' started by Scott No Mates, 6th Mar, 2016.

  1. Scott No Mates

    Scott No Mates Well-Known Member

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    One for the legal eagles:

    Am I required to register a POA for a company for someone to act in the capacity of directors even where they have put in place personal powers of attorney as individuals?

    Do these POA need to be registered with the LTO separately from the personal POA?
     
  2. JacM

    JacM VIC Buyer's Agent Business Member

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    Hi @Scott No Mates

    What sort of powers are you appointing? General power of attorney or for a specific one-time task?
     
  3. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Yes personal appointed attorney wont have power to act for a company as itnis a separate legal person. The attorney would need to be appointed director to act or the company would need to appoint an attorney which is more complicated that an individual appointing one.
     
  4. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Power of attorney appointments only need to be registered where land will be dealt with. Lease. Sale. Mortgage etc
     
  5. Scott No Mates

    Scott No Mates Well-Known Member

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    @JacM - general POA

    @Terry_w - will be dealing with property/lease registration.

    Will all directors need to appoint the person/s if each director is not required to sign/execute documents?
     
  6. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    The company will need to appoint the person. Alternatively the person could be appointed director.