Corporate Power of attorney

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

Join Australia's most dynamic and respected property investment community
Tags:
  1. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,228
    Location:
    Sydney or NSW or Australia
    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?
     
    Scott No Mates, 6th Mar, 2016
    #1
  2. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

    Joined:
    12th Jul, 2015
    Posts:
    2,219
    Location:
    Melbourne, Australia
    Hi @Scott No Mates

    What sort of powers are you appointing? General power of attorney or for a specific one-time task?
     
    JacM, 6th Mar, 2016
    #2
  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    41,941
    Location:
    Australia wide
    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.
     
    Terry_w, 6th Mar, 2016
    #2
  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    41,941
    Location:
    Australia wide
    Power of attorney appointments only need to be registered where land will be dealt with. Lease. Sale. Mortgage etc
     
    Terry_w, 6th Mar, 2016
    #3
  5. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,228
    Location:
    Sydney or NSW or Australia
    @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?
     
    Scott No Mates, 6th Mar, 2016
    #4
  6. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    41,941
    Location:
    Australia wide
    The company will need to appoint the person. Alternatively the person could be appointed director.
     
    Terry_w, 6th Mar, 2016
    #5
Self-Managed Super – Super your way

PFI provide our clients with the opportunity to purchase an investment property, together with performing equity investments from a wide range of ASX listed securities some providing monthly income. This is the value of advice.