Multiple choice

Which of the following is not correct in connection with the mandate given by a customer?

  1. Mandate can be given by the customer any time.

  2. Mandate can be withdrawn by the customer any time.

  3. If after mandate, a power of attorney is given by the customer in favour of another person, the mandate ceases to operate.

  4. A customer can give more than one mandate at a time and all remain operative.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Correct Answer: If after mandate, a power of attorney is given by the customer in favour of another person, the mandate ceases to operate.

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