New South Wales Consolidated Acts
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POWERS OF ATTORNEY ACT 2003 - SECT 50
Effect of management of estate
50 Effect of management of estate
(1) A power of attorney is not terminated by the estate of the principal
becoming subject to management under the NSW Trustee and Guardian Act 2009 (a
"managed estate" ).
(2) Subsection (1) has effect subject to the terms of the
instrument creating the power.
(3) A power of attorney is suspended while the
estate of the principal is a managed estate.
(4) Despite subsection (3), if
the Civil and Administrative Tribunal, in making a financial management order
under section 25E of the Guardianship Act 1987 in relation to a principal,
excludes a specified part of the principal's estate from the order, the Civil
and Administrative Tribunal may order that the power of attorney is to remain
in force in respect of so much of the estate as is excluded from the financial
management order concerned.
(5) The Civil and Administrative Tribunal may
make a similar order in respect of so much of the estate of the principal as
is not managed estate, but only if the estate is a managed estate because of a
financial management order made by the Civil and Administrative Tribunal.
Despite subsection (3), where an attorney under a power of attorney does an
act within the scope of the power while the estate of the principal is a
managed estate, the act of the attorney has no less validity and effect than
the act of the attorney would have had if this section had not been enacted,
but this subsection does not affect the operation of subsection (9).
While a power of attorney is suspended by this section, the Supreme Court may
restore the power of attorney to operation to such extent, and on such terms
and conditions, as the Supreme Court thinks fit.
(8) The Supreme Court may
restore a power of attorney to operation under subsection (7) as from any time
whether before or after the order of restoration is made or takes effect.
If the estate of a principal is a managed estate, the Supreme Court may:
terminate the power of attorney, or
(b) order that the power of attorney be
subject to such conditions as the Court thinks fit.
(10) An attorney under a
power of attorney and persons dealing with the attorney and all other persons
have the like protections against any term or condition of any restoration of
the power and against any condition or restriction to which the power is
subject under this section as if the term, condition or restriction were
effected by act of the principal.
(11) The estate of a person whose estate is
subject to management under Division 2 of Part 4.3 of the NSW Trustee and
Guardian Act 2009 is taken to be a managed estate for the purposes of this
section for the life of the person or until the Supreme Court declares that
the exercise of the powers of the NSW Trustee and Guardian in relation to the
estate is not required. An application to the Court for a declaration may be
made by the NSW Trustee and Guardian, the person whose power of attorney is in
question or an attorney under the power of attorney.
(12) A declaration for
the purposes of subsection (11) has no effect otherwise than for the purpose
of subsection (11).
(13) This section does not apply to a power of attorney
given before the commencement of Schedule 1 to the Conveyancing (Powers of
Attorney) Amendment Act 1983 .
(14) This section has effect subject to Part
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