218A Temporary modification relating to powers of attorney and outbreak of COVID-19

(1)

Despite section 218(2)(d) and paragraph (e) of Part 3 of Schedule 5, this subpart applies to a deed—

(a)

that creates a power of attorney in connection with a security interest; and

(b)

that is made during the period specified in section 218B.

(2)

In subsection (1), security interest means an interest in property created or provided for by a transaction that, in substance, secures payment or performance of an obligation, without regard to—

(a)

the form of the transaction; and

(b)

the identity of the person who has title to the property that is subject to the security interest.

Section 218A: inserted, on 16 May 2020, by section 3 of the COVID-19 Response (Further Management Measures) Legislation Act 2020 (2020 No 13).