A Power of Attorney is a legal document whereby a person or a company gives another person or persons the power to act on his or its behalf. The authority granted can be general or limited to specific affairs. The person or persons to whom the powers are granted are called "Attorneys". A Power of Attorney generally last for a specified period of time or until it is revoked by a Deed of Revocation. For a Deed of Revocation please see Deed of Revocation - Revocation Power of Attorney.
There is no requirement for a Power of Attorney to be registered in order to be valid and it has effect once signed (or otherwise, if stated in the document).
This Corporate Power of Attorney template shall be used when a Company wishes to grant to certain specified individuals (the Attorneys) a general power to act on its behalf in relation to a specific transaction.
Please do not confuse this Corporate Power of Attorney template with a General Power of Attorney - Individual or a Lasting Power of Attorney.
A General Power of Attorney – Individual shall be used when a person wants to give to someone the authority to act on his behalf. Instead a Lasting Power of Attorney (previously known as Enduring Power of Attorney) has been introduced by the Mental Capacity Act 2005 and it allows individuals to appoint Attorneys to look after their property and financial affairs and also to make health and personal welfare decisions when they lack the capacity to make these decisions themselves in the future.
For a General Power of Attorney – Individual please see General Power of Attorney - Individual, for a Lasting Power of Attorney please see our Free Documents: Lasting Power of Attorney - Health & Welfare - Creation and Registration Pack and Lasting Power of Attorney - Property & Financial Affairs - Creation & Registration Pack.