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The document should be signed by the authorised signatory (or directors of a company) and witnessed to complete the formality.
This POA is suitable for the sale of shares in a private company where the Seller gives security interest of the Shares to the Buyer by appointing the Buyer as its Attorney.
By way of security for the interest of the Attorney in the Shares, the Principal wishes to appoint the Buyer as its Attorney, upon the terms and conditions of this Deed.
For the purpose of securing the interest of the Attorney in the Shares, the Principal irrevocably and by way of security appoints the Attorney as its true and lawful attorney with authority on its behalf and in its name or otherwise to exercise all rights, powers and privileges attaching to the Shares or otherwise capable of being exercised by the registered holder of the Shares and for such purpose to do all such acts and things and to execute all such deeds and other documents as the Attorney shall consider necessary or desirable pending registration of the Shares into the name of the Attorney including, without prejudice to the generality of the foregoing, all or any of the following (in each case in such manner and on such terms as the Attorney in its absolute discretion shall think fit).
This document may be used by the Principal to appoint the Buyer as its Attorney and where a power of attorney (POA) is needed during the sale of shares in a private company.