When the form to appoint an enduring guardian has been completed, the appointor and proposed enduring guardian must sign the form.
The appointor can limit or exclude the authority given in relation to the functions in the appointment and can add any other function relating to the appointor's person.
* Deciding the heath care the appointor is to receive
* Deciding the other kinds of personal services that the appointor is to receive
* Giving consent under Part 5 of the Guardianship Act to the carrying out of medical or dental treatment on the appointor
On the other hand, the incentives of the receiver and the appointor
are not to maximize the value of the concern, but rather to realize the proceeds from a sale as quickly as possible at any value up to, but not necessarily above, the claim of the appointing creditor.
Thomas, The Role of Nominee Directors and the Liability of Their Appointors, in corporate Governance and the Duties of Company Directors 148,150 (Ian Ramsay ed., 1997) ("I therefore observe that, in reality, the primary or ultimate loyalty of most nominee directors is reserved for their appointors and not the company to which they have been appointed."); id.
In commercial practice, the relationship of the appointors and the nominee directors whom they have appointed is almost invariably that of principal and agent or employer and employee.
Thomas, supra note 119, at 150 ("[I]n reality, the primary or ultimate loyalty of most nominee directors is reserved for their appointors and not the company to which they have been appointed.").
If new funds have to be invested, creditors, other than the appointor, may refuse to contribute, even though they might benefit, when those new borrowings will be junior to all other claims.
A second free-rider problem arises in the UK receivership system when creditors other than the appointor of the receiver, refuse to contribute towards new financing although they may benefit if the new financing adds value.
the appointor, such financing does not have priority over existing financing and therefore may give rise to an underinvestment problem.