Prajna Capital - An Investment Guide

Some conditions relating to making a valid POA According to the Power of Attorney Act 1882, a power of attorney ( POA ) includes any instrument (not chargeable with a fee under a law relating to court fees) empowering a specified person to act for and in the name of the person executing it. A POA grants authority to a person to perform certain acts on behalf of another person. It means a person is authorising another person to do something on his behalf. The person for whom such an act is performed or is represented is called the principal. The person who is executing the POA is called the executant and the person to whom power is granted is called general power of attorney ( GPA ) holder or beneficiary. There are two kinds of POA. One is the GPA. It gives wide powers to an agent to act on behalf of the principal as detailed in the deed. It is not confined to any specific act relating to a specific subject. The second is a specific power of attorney ( SPA ). This is given in respect of...