57Conflict transactions

57 Conflict transactions (1) Subject to section 58, 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 represented 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 gift made in accordance with section 47; or (b) a transaction providing for the maintenance of a dependant of the represented person made in accordance with section 52(n); or (c) a transaction merely because in the transaction, the administrator (in the administrator's own right and on behalf of the represented person)— (i) deals with an interest in property held jointly by the administrator and the represented 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).