Obligations of donee
107 Obligations of donee
The donee of an enduring power of attorney —
shall exercise his powers as attorney with reasonable diligence to protect the interests of the donor and, if he fails to do so, he is liable to the donor for any loss occasioned by the failure;
shall keep and preserve accurate records and accounts of all dealings and transactions made under the power;
subject to section 109(2), may not renounce a power during any period of legal incapacity of the donor; and
shall, if the donee becomes bankrupt, report that bankruptcy to the State Administrative Tribunal.
Penalty applicable to paragraph (b): $2 000.
In relation to an enduring power of attorney recognised by the State Administrative Tribunal under section 104A(2), subsection (1)(a) and (b) only apply to the donor’s estate within Western Australia and subsection (1)(c) does not apply.
[Section 107 amended: No. 7 of 1996 s. 32; No. 70 of 2000 s. 16; No. 55 of 2004 s. 466(1).]
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