Powers of Attorney Act 2014

A principal and a beneficiary of a principal have the same interest in any money or other property arising from or received in respect of any sale, mortgage, exchange, partition or other disposition under the powers given to an attorney under an enduring power of attorney which have not been applied under those powers that the principal or beneficiary would have had in the property the subject of the sale, mortgage, exchange, partition or disposition if no sale, mortgage, exchange, partition or disposition had been made.

For the purposes of this section, money arising from the compulsory acquisition or purchase under any Act of property of a principal is taken to be money arising from the sale of that property under the powers given to the attorney under the enduring power of attorney.

An attorney under an enduring power of attorney is not required to keep the proceeds of the sale or other disposition of property under this section separate from the principal's other assets.

Money received by an attorney under an enduring power of attorney under this section may be invested in any manner in which trust funds may be invested under the Trustee Act 1958.

In this section, beneficiary of a principal means—

a beneficiary of a principal under a will; or

a principal's executor; or

a principal's administrator under the Administration and Probate Act 1958.