Section 21 — Property Law Act 2007: Irrevocable powers of attorney

21 Irrevocable powers of attorney (1) Subsections (2) and (3) apply in favour of a purchaser. (2) An irrevocable power of attorney given for valuable consideration is not revoked by notice of an event that would otherwise revoke the power of attorney if the notice is received when the power of attorney cannot be revoked. (3) An irrevocable power of attorney not given for valuable consideration is not revoked by notice of an event that would otherwise revoke the power of attorney if the notice is received during— (a) the period of 1 year after the date of the instrument; or (b) any shorter period for which the instrument is expressed to be irrevocable. (4) In this section,— event includes the death, mental deficiency, or bankruptcy of the donor of a power of attorney irrevocable power of attorney means a power of attorney that is expressed in the instrument by which it is given to be— (a) irrevocable; or (b) irrevocable for a fixed time purchaser includes a lessee or mortgagee, or other person who, for valuable consideration, takes or deals for any property. Compare: 1952 No 51 ss 136 , 137