Guardianship and Administration Act 1995

An enduring guardian may only enter into a transaction that results, or may result, in a conflict of interest, if – the instrument of appointment of the enduring guardian specifies that the transaction may, even though it will or may result in a conflict of interest, be entered into by the enduring guardian; or the transaction is a member of a class of transactions that the instrument of appointment of the enduring guardian specifies may, even though the transactions will or may result in a conflict of interest, be entered into by the enduring guardian; or the instrument of appointment of the enduring guardian specifies that, even though such a transaction will or may result in a conflict of interest, any transaction may be entered into by the enduring guardian.

For the purposes of subsection (1), a conflict of interest is a conflict between – the duties of an enduring guardian in respect of the appointor; and either – the interests of the enduring guardian, or a relative, business associate or close friend of the enduring guardian; or another duty of the enduring guardian.