Powers of Attorney Act 1949 (Act 424) And Rules & Wills Act 1959 (Act 346) (As At 5th February 2022]

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Powers of Attorney Act 1949 (Act 424) And Rules

&

Wills Act 1959 (Act 346)

(As At 5th February 2022]

 

Act 424 – An Act relating to powers of attorney.
Act 346 – An Act relating to the law on wills.

Detailed Contents Of Powers of Attorney Act 1949 (Act 424) And Rules & Wills Act 1959 (Act 346) :

The Powers of Attorney Act 1949 (Act 424) and the Wills Act 1959 (Act 346) are two important pieces of legislation in Malaysia that deal with the legal aspects of powers of attorney and wills.

The Powers of Attorney Act 1949 (Act 424) is an act that regulates the creation and execution of powers of attorney in Malaysia. A power of attorney is a legal document that authorizes one person, known as the agent or attorney-in-fact, to act on behalf of another person, known as the principal, in legal and financial matters. The Act provides rules for the creation of powers of attorney, including requirements for execution, registration, and revocation.

The Act defines the various types of powers of attorney, such as general and special powers of attorney, and outlines the rights and duties of the agent. It also includes provisions for the protection of third parties who may rely on the agent's authority, as well as guidelines for the termination and revocation of a power of attorney.

The Wills Act 1959 (Act 346), on the other hand, governs the making, execution, and revocation of wills in Malaysia. A will is a legal document that allows a person to specify how their property and assets will be distributed after their death. The Act provides rules for the creation of valid wills, including requirements for execution, attestation, and revocation.

The Act outlines the various types of wills, such as holographic and privileged wills, and provides guidelines for the distribution of property in the absence of a valid will. It also includes provisions for the appointment and duties of executors, the revocation of wills, and the administration of estates.

In summary, the Powers of Attorney Act 1949 (Act 424) and the Wills Act 1959 (Act 346) are two important pieces of legislation that provide guidelines for the creation and execution of powers of attorney and wills in Malaysia. They are designed to protect the interests of both the principal and the agent in the case of powers of attorney, and the interests of the testator and their heirs in the case of wills.


Powers of Attorney Act 1949 Contains :

Powers of Attorney Act 1949 (Act 424)Powers of Attorney (Fees) Rules 1949

Wills Act 1959 (Act 346)

Find more statutes like Powers of Attorney Act 1949 : Statutes

ISBN: 9789678904209
 
 

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