Investors can cancel or revoke Power of Attorney (PoA) any time - See how and other details here

There is an important update for the investors regarding the Power of Attorney (PoA). The investors must know that they reserve the right to revoke the PoA at any time giving due notice. The National Stock Exchange (NSE) has recently tweeted about this from its official Twitter handle. In case of any further details, the interested individuals can login to the official website of NSE at nseindia.com.

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Recently, NSE has tweeted from its official Twitter handle, "You have the right to revoke/cancel the Power of Attorney (PoA). Do so if you think you would need that to ensure a smoother investment journey."

You have the right to revoke/cancel the Power of Attorney (PoA). Do so if you think you would need that to ensure a smoother investment journey. #InvestorAwareness #NSE #NSEIndia pic.twitter.com/JltCUD4RmQ

— NSEIndia (@NSEIndia) January 3, 2022

In this regard, one must be aware of what is a PoA. It must be noted that PoA is the legal authority that one gives to one's stockbroker to operate his or her account for the purposes authorised by the individual.

The Twitter post from NSE states that just like the authority one has given to PoA to carry out specific activities on the individual's behalf, one also has the authority to revoke or cancel the PoA at any point after giving the required notice.

An investor must note that PoA should generally be given for a limited period. The period should never be left open-ended in the hand of the broker or member but it should be clearly mentioned, as per NSE. The choice of renewal or otherwise should be exercised after reviewing the manner in which PoA has been put to use by the PoA holder.

Now, in order to cancel or revoke one's PoA, the investor must fulfill the requirement of the advance notice period. Furthermore, at the time of giving PoA, one has to make sure that the individual's right of cancellation is clearly stated in the PoA.

In case of any further details and queries, the interested individuals can login to the official website of NSE at nseindia.com.