Effect of registered power of attorney

(1) A power of attorney which has been registered under section 116 and of which no notice of revocation has been registered under that section shall be deemed to be subsisting or, as regards any person acquiring any interest in land affected by the exercise of the power, for valuable consideration and without notice of revocation and in good faith, or any person deriving title under such a person. 78 (2) Any person making any payment or doing any act in good faith in pursuance of a power of attorney registered under section 116, shall not be liable in respect of the payment or act by reason only that before the payment or act the grantor of the power had died or become subject to a disability or become bankrupt, or had revoked the power, if the fact of death, disability, bankruptcy or revocation was not at the time of the payment or act known to the person making or doing the payment or act. Land Transmission and Trusts, etc.