118Conflict transactions

118 Conflict transactions (1) Subject to section 119, an administrator must not enter into a transaction in the capacity of administrator if the transaction is one in which there is, or may be, a conflict between— (a) the duty of the administrator to the missing person; and (b) the interests of the administrator, or of a relative, business associate or close friend of the administrator. (2) Subsection (1) does not apply to— (a) a transaction providing for the maintenance of a dependant of the missing person made in accordance with section 114(n); or (b) a transaction merely because in the transaction, the administrator (in the administrator's own right and on behalf of the missing person)— (i) deals with an interest in property held jointly by the administrator and the missing person (whether as joint tenants or tenants in common); or (ii) obtains a loan or gives a guarantee or indemnity in respect of a transaction referred to in subparagraph (i).