Section 46: Power of Attorney May be Given

1) A person who wishes to make foreign investment in accordance with this Act gives a power of attorney to another person to perform any, some or all of the acts or actions required to be performed by that person. All acts, actions performed by the authorised person in accordance with the power of attorney shall be deemed to have been performed by the investor himself or herself.

2) In order to perform the act in accordance with a power of attorney given in accordance with sub-section (1), such a power of attorney shall be notarised and provided to the foreign investment approving body. The foreign investment approving body may, if it is considered necessary, look at the original power of attorney.

3) A person who is authorised in accordance with sub-section (1) may not delegate the authority conferred on him or her to another person.

4) The person who gives a power of attorney may, at any time, withdraw the power of attorney given by him or her. The power of attorney shall become invalid from the date on which the person giving such power of attorney registers the information of such withdrawal of the power of attorney with the foreign investment approving body.

5) Other provisions relating to the giving of power of attorney shall be as prescribed.