Common use of Lack of Capacity Clause in Contracts

Lack of Capacity. 27.1 In the event that the Bank receives written notice of the lack of capacity of the Accountholder under the Mental Capacity Act (Cap. 177A) of Singapore (or such other equivalent, amendment or replacement legislation), the Bank shall be entitled (but not obliged) to: (a) accept and execute instructions of any nature believed by the Bank to be genuine and purporting to be signed, given or issued by an authorised agent of the Accountholder (including without limitation, a donee of a lasting power of attorney granted by the Accountholder); and (b) without assigning any reason whatsoever, with or without written notice to the Accountholder, suspend, freeze, terminate or close the Account or the use or availability of any or all of the products, services or other privileges provided under the Account or the Account package, as the case may be. HBSP/ CVM/ WEL/ TB/ TNC101 27.2 The Accountholder agrees to ratify everything that his authorised agent (including without limitation, a donee of a lasting power of attorney granted by the Accountholder) does on the Accountholder’s behalf arising from or in connection with the Account and/or the Bank providing the services, performing its obligations hereunder or accepting instructions received from or purportedly given by the authorised agent.

Lack of Capacity. 27.1 In the event that the Bank receives written notice of the lack of capacity of the Accountholder under the Mental Capacity Act (Cap. 177A) of Singapore (or such other equivalent, amendment or replacement legislation), the Bank shall be entitled (but not obliged) to: (a) accept and execute instructions of any nature believed by the Bank to be genuine and purporting to be signed, given or issued by an authorised agent of the Accountholder (including without limitation, a donee of a lasting power of attorney granted by the Accountholder); and (b) without assigning any reason whatsoever, with or without written notice to the Accountholder, suspend, freeze, terminate or close the Account or the use or availability of any or all of the products, services or other privileges provided under the Account or the Account package, as the case may be. HBSP/ CVM/ WEL/ TB/ TNC101. 27.2 The Accountholder agrees to ratify everything that his authorised agent (including without limitation, a donee of a lasting power of attorney granted by the Accountholder) does on the Accountholder’s behalf arising from or in connection with the Account and/or the Bank providing the services, performing its obligations hereunder or accepting instructions received from or purportedly given by the authorised agent.