Powers of Attorney Act 2000

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

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

Despite subsection (2), a transaction does not result, or is not to be taken to be a transaction that may result, in a conflict of interest only because, by the transaction, the attorney in the attorney's own right and on behalf of the donor – deals with an interest, in property, held by the attorney and the donor as tenants in common or joint tenants; or acquires an interest, in property, jointly with the donor as tenants in common or joint tenants; or obtains a loan or gives a guarantee or indemnity in relation to – the acquisition of an interest, in property, held by the attorney and the donor as tenants in common or joint tenants; or a dealing with an interest, in property, jointly with the donor as tenants in common or joint tenants.