company may act under power of attorney by managing director, manager or 2 directors
12 company may act under power of attorney by managing director, manager or 2 directors
A trustee company may act under any power of attorney by which the trustee company is appointed attorney by any person, and all the powers given to the trustee company by any such power of attorney may be exercised and carried into execution by the managing director or manager or 2 of the directors of the trustee company, but in all cases the capital both paid and unpaid and all other assets of the trustee company shall be liable for the due execution of the powers so given to the trustee company.
This section shall not authorise any person to give any power to a trustee company that cannot be legally given to a private individual.
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