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All About Power of AttorneyThe Power of Attorney or POA in short is the legal consent form that is signed by an investor to authorize his or her broker to carry out debit transactions from the Demat account of the investor. The POA is a one-time affair, meaning you only need to sign it one time, and it will remain valid for all sell transactions throughout the time your account is open with the particular broker. History of Power of Attorney
What is the Power of Attorney form?The Power of Attorney form is a physical form that the client (investor) of a financial broker needs to sign with details like Name, Client ID, along with Signatures of First or Sole Holder, Second Holder, Third Holder on each page and broker details and send it by post or courier to the Broker’s head office. Usually, every broker will have a standard template or format with details already present in acceptable legal language and common information like broker details already filled up. The POA form has to be printed only on a stamp paper or any A4 sheet with Franking (affixed a stamp by a notary or registered officer and stamp duty paid) How does Power of Attorney Work?
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