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Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10623
Experience:  Barrister 17 years experience
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What happens if I sign Power of Attorney to the Directory of

Resolved Question:

What happens if I sign Power of Attorney to the Directory of a company i'm invested in? Can he sell my share holding without my consent?
Submitted: 3 years ago.
Category: Law
Expert:  Buachaill replied 3 years ago.

Buachaill :

1. A power of attorney effectively makes the person getting the power of attorney, known as the donee, your agent for all purposes connected with whatever your power of attorney relates to. So if you give a director of a company a power of attorney over your shares, he may vote them, pledge or mortgage them, sell them or otherwise deal with them as he wants. So before you do this, you should place some limitations upon the freedom of action you are giving this director by giving him a Power of Attorney over your shares. Otherwise you could wake up one day and find your shares sold.

Customer:

Thanks Buachaill, I figured that might be the case

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