Powers of Attorney Act 2006

For this section, a conflict transaction is a transaction that results, or may result, in conflict between—

the duty of an attorney towards the principal; and

either—

the interests of the attorney, or a relative, business associate or close friend of the attorney; or

another duty of the attorney.

However, a transaction is not a conflict transaction only because, by the transaction, the attorney in the attorney’s own right and on behalf of the principal—

deals with an interest in property jointly held; or

acquires a joint interest in property; or

obtains a loan or gives a guarantee or indemnity in relation to a transaction mentioned in paragraph (a) or (b).

An attorney may enter into a conflict transaction only if the principal authorises the transaction, conflict transactions of that kind or conflict transactions generally, in the power of attorney.

In this section: