Guardianship and Management of Property Regulation 1991

Corresponding law. Section 12(4) of the Act defines “corresponding law” to mean a law of a foreign country that is prescribed by regulation. The Regulation lists 45 foreign countries: Antigua and Barbuda, Argentina, Austria, Bahamas, Belgium, Botswana, Brunei Darussalam, Canada, Cyprus, the Federal Republic of Germany, Fiji, Finland, France, Greece, Hungary, Ireland, Israel, Italy, Japan, Lesotho, Liechtenstein, Luxembourg, Malawi, Malta, Mauritius, the Netherlands, New Zealand, Norway, Portugal, Seychelles, Spain, Surinam, Swaziland (now Eswatini), Switzerland, Tonga, Turkey, the United Kingdom, the United States, and Yugoslavia (which no longer exists as a sovereign state). The concept of “corresponding law” is critical for cross-border recognition of guardianship and property management orders. If an appointment order from a prescribed country is presented in the ACT, the Act permits its recognition without the need to commence fresh proceedings, provided it is in substantially the form prescribed under the Act, or the ACAT is satisfied it was made in proper form. The Regulation does not define “foreign country”; that term is presumably drawn from the Act or the Legislation Act 2001. Notably, the list omits several populous economies such as China, India, Brazil, and Russia, which creates a significant gap for practitioners dealing with assets or persons connected to those states.

Manager’s accounts. Section 6 of the Regulation fleshes out the obligation in section 26(1) of the Act for a manager to file accounts. The Regulation uses the phrase “relevant day” as the anchor for filing deadlines. There are three triggers for the relevant day: (a) the day of the manager’s appointment; (b) each anniversary of that appointment if the manager has acted for a continuous period longer than one year (i.e. annual accounts); and (c) any day before which the ACAT directs the manager to file prescribed documents. The documents themselves are categorised into five items: income, expenditure, assets, liabilities, and any other document requested by the Public Trustee and Guardian. The income statement must list pensions, employment income, superannuation, investment returns, rent, and benefits from deceased estates or trusts. The expenditure statement must include a bank or financial institution statement for every account at an authorised deposit-taking institution held in the represented person’s name, covering the one-year period ending on the relevant day. If the manager has served longer than one year, they must also provide a budget or summary of expenses and a receipt for any one-off purchase of $500 or more (examples given: whitegoods, electronics, jewellery). The asset statement must estimate values for cash in bank accounts, real property, personal property, and investments. The liability statement must detail creditors, types of liabilities, and their values. The Public Trustee and Guardian may request additional documents relating to the management of the relevant property, and that request is binding.

What the Regulation does not define. The Regulation does not define who is a “manager”, a “represented person”, or the “Public Trustee and Guardian”. These terms are defined in the Act. Practitioners must consult the Act to understand the scope of the appointment, the capacity threshold, and the powers of the manager, including any restrictions imposed by the ACAT. The Regulation also does not specify the form in which documents must be filed, beyond ordinary language indicating they must be “filed”. The ACAT’s practice directions may govern acceptable formats, and the Public Trustee and Guardian may issue pro-forma templates for the accounts.

The Regulation directly affects three primary groups: managers of property appointed under the Act, the represented persons whose property is managed, and the Public Trustee and Guardian. Indirectly it also affects the ACAT, financial institutions, foreign courts and tribunals in prescribed countries, and legal and financial advisers who draft wills, trusts, or powers of attorney with cross-border dimensions.

Managers. Any person or body appointed by the ACAT as a manager of a represented person’s property must comply with the accounts requirements in section 6. This includes the Public Trustee and Guardian when acting as manager, private individuals (often family members or friends), and professional trustees or solicitors. For a newly appointed manager, the obligation arises immediately: documents must be filed within 28 days of the appointment. For ongoing managers, the obligation recurs annually on each anniversary of appointment, with the same 28-day window. The compliance burden is not trivial. A manager must gather all bank statements for every account held in the represented person’s name, even if the account is small or inactive, and must provide them for the full preceding year. If the manager has been managing for more than one year, they must also produce a budget or summary of expenses and keep receipts for any single purchase at or above $500. Failure to meet these requirements may lead to adverse consequences under the Act, although the Regulation itself imposes no direct penalty.

Represented persons. While the Regulation does not impose duties on represented persons directly, it affects them because the accounts are designed to report on the management of their financial affairs. The Act (not the Regulation) protects their rights, including the right to be heard before appointment and to seek review. The detailed financial statements required by section 6 give the Public Trustee and Guardian and the ACAT the means to monitor whether the manager is acting in the represented person’s best interests, and whether the estate is being preserved. For a represented person with simple finances, the compliance burden may seem disproportionate, but the Regulation does not offer any exemption or simplified regime.

Public Trustee and Guardian. This office is the principal supervisory body. Section 6(1)(e) gives the Public Trustee and Guardian the power to request “any other document relating to the management of the relevant property”. This is a broad discretion, and the Regulation does not limit how many times such a request may be made or the grounds for it. The Public Trustee and Guardian also receives the filed accounts and presumably reviews them for propriety. The Regulation does not specify what happens after filing - for example, whether the Public Trustee and Guardian must certify the accounts, or whether they are simply accepted - but the Act may provide further mechanisms.

Foreign countries and cross-border matters. The list of prescribed foreign countries in section 3 affects anyone seeking to have a foreign guardianship or property management order recognised in the ACT. For a person appointed guardian in, say, the United Kingdom or Canada, the Regulation smooths recognition because those countries are listed. For a person from a non-listed country (e.g., China or India), recognition is not automatic; they must rely on other mechanisms under the Act, which may involve applying to the ACAT for a fresh order. The list may also affect Australian guardians who spend time overseas or have assets in a prescribed country, as the Regulation contributes to reciprocal arrangements.

The ACAT. The Tribunal is the forum where managers file accounts (unless the Act provides that filing is with the Public Trustee and Guardian - the Regulation uses the language “filed” but does not specify the recipient; section 26(1) of the Act likely directs filing with the ACAT). The ACAT may also direct an earlier filing date under section 6(3)(c). The Regulation does not prescribe any fee for filing, nor any consequence for late filing; those would be under the ACAT’s rules or the Act.

Financial institutions and other third parties. A manager may need to request bank statements from financial institutions in order to comply. The Regulation does not give the manager any additional rights to access information beyond what the Act provides, but the requirement to produce statements presumes that the manager can obtain them. If the represented person is uncooperative or the institution imposes a fee, that cost is borne by the estate.

The Regulation imposes specific duties on managers and confers a right on the Public Trustee and Guardian. It creates no explicit rights for represented persons, though those rights arise under the principal Act.

Manager’s duty to file prescribed documents. Under section 6(1), a manager must file documents specified in paragraphs (a) through (e) for the Act, section 26(1). This is a mandatory obligation; the word “prescribed” in the Act makes the Regulation’s list exhaustive for the ordinary annual filing, but the Public Trustee and Guardian can expand the list on request. The duty arises on the relevant day. If the manager fails to file, the Act may treat this as a breach of duty, potentially leading to removal or sanctions.

Manager’s duty to include comprehensive financial details. The documents required are detailed. The income statement (paragraph (a)) must cover six enumerated categories: pensions, employment, superannuation, investments, rent, and income from deceased estates or trusts. This is not a simple total; each category likely needs separate disclosure. The expenditure statement (paragraph (b)) requires bank statements for every account; if the manager has acted for more than one year, they must also provide a budget or expense summary plus receipts for any single purchase of $500 or more. The term “one-off purchase” suggests the threshold applies per transaction, not aggregated. A manager cannot simply provide a summary of spending; the underlying documentation is required. The asset and liability statements (paragraphs (c) and (d)) require estimated values and details of creditors. There is no exception for small estates or for represented persons with no assets or income; technically, a nil statement would still be required.

Manager’s duty to file within 28 days. Section 6(2) sets the filing window at 28 days after the relevant day. This is a tight deadline. For a newly appointed manager, the 28 days runs from the date of appointment, not from when the manager receives the appointment order or takes control of assets. For ongoing managers, the 28 days runs from each anniversary of appointment. A manager who is appointed mid-year must file accounts 28 days later, even if only a few days of management have occurred, and then again on the first anniversary (which may be only months away). The Regulation does not permit extensions, though the ACAT could arguably extend time under its general powers or under the Act. The ACAT can direct an earlier filing date under paragraph (c), but cannot unilaterally extend the 28-day period beyond the anniversary - that would require a direction under the Act.

Public Trustee and Guardian’s right to request additional documents. Section 6(1)(e) provides that the manager must file “any other document relating to the management of the relevant property requested by the public trustee and guardian.” This is a broad power with no explicit limitation. The Public Trustee and Guardian could request a copy of the manager’s diary entries, investment advice, insurance policies, or even personal correspondence if it relates to property management. The manager must comply; there is no right to object on grounds of privacy or burden, although the ACAT could possibly adjudicate if a request was unreasonable. The Regulation does not set a time limit for complying with such a request, but the 28-day rule applies only to the standard documents; for additional documents, a reasonable time would be implied.

No right to be excused. The Regulation contains no hardship exemption or discretion for the ACAT or Public Trustee and Guardian to waive the filing requirements. If a represented person’s estate is minimal or the manager has incurred difficulties obtaining bank statements, they are still required to file the prescribed documents. The only flexibility is the ACAT’s power to specify an earlier filing date (not a later one) or the manager’s ability to submit nil statements where there is nothing to report, but the documents themselves must still be provided.

Rights of represented persons. The Regulation does not give represented persons any right to inspect the accounts, to object to entries, or to be notified of the filing. Those rights, if they exist, would be found in the Act or in the ACAT’s procedural rules. However, the existence of a comprehensive reporting regime benefits represented persons because it provides a basis for the ACAT to detect mismanagement.

The Regulation itself does not create any offences or prescribe penalties. Powers of enforcement, sanctions for non-compliance, and liability for breach of duty are found in the Act or in general law. The Regulation’s role is to specify what must be done; failure to do so may trigger consequences under the Act.

Act s 26 and non-compliance. Section 26(1) of the Act requires a manager to “file accounts in accordance with the regulations.” If the manager fails to file the prescribed documents within 28 days, or files incomplete or inaccurate documents, the ACAT may treat this as a breach of the manager’s duties. Under the Act, the ACAT has power to make orders in relation to managers, including giving directions, varying or revoking appointments, or removing a manager. Repeated non-compliance could lead to removal and potential liability for any loss caused. The Regulation does not state that the accounts must be accurate, but a manager who knowingly omits assets or fabricates receipts could face more serious consequences, such as an application for contempt or referral to the police for fraud.

Penalty units. The Regulation is silent on penalties, but the republication notes that the value of a penalty unit for an offence against this law is $160 for an individual and $810 for a corporation (see Legislation Act 2001, s 133). This applies to any offence created under the Act or under the Regulation. Since the Regulation does not create offences, this penalty unit value is only relevant if another provision of the Regulation is amended in the future, or if the Act itself imposes a penalty for failing to comply with the regulations. Practitioners should check the Act for any head of penalty. The Act does not appear to have a specific penalty provision for failure to file accounts; rather, it relies on ACAT orders.

ACAT’s general powers. The ACAT has broad powers under its enabling Act (the ACT Civil and Administrative Tribunal Act 2008) to enforce its own orders and to deal with non-compliance. If the ACAT directs a manager to file documents by a specified date and the manager does not, the ACAT may make an order requiring compliance, and failure to comply with that order could constitute contempt or lead to a penalty under that Act.

Public Trustee and Guardian enforcement. The Public Trustee and Guardian has no express enforcement role under the Regulation, but as the body that can request additional documents, it can report non-compliance to the ACAT. In practice, the Public Trustee and Guardian may conduct audits of managers’ accounts and, if deficiencies are found, notify the ACAT. The Regulation does not oblige the Public Trustee and Guardian to take any further action.

Private enforcement. Represented persons or their family members could apply to the ACAT for review of a manager’s actions if they suspect mismanagement. The filed accounts would be evidence in such proceedings. The Regulation does not create a private right of action for failure to file accounts, but it may be used to establish a standard of care.

Costs and surcharges. Repeated or serious non-compliance could result in the manager being ordered to pay costs or to compensate the estate for losses caused by the failure to keep proper accounts. The Regulation does not address this, but it flows from general legal principles and the Act.

The Guardianship and Management of Property Act 1991 (the principal Act). The Regulation is entirely dependent on the Act. Sections 3 and 6 of the Regulation refer specifically to sections 12(4) and 26(1) of the Act. The Act defines the framework for appointment of managers, the powers and duties of managers, and the supervisory role of the ACAT and Public Trustee and Guardian. The Regulation fills in the details: it lists which foreign countries’ laws are “corresponding laws” and specifies the documents required for accounts. If the Act is amended, the Regulation may need to be updated.

ACT Civil and Administrative Tribunal Act 2008. The ACAT is the tribunal that receives the filed accounts and can direct earlier filing dates. Its procedural rules may govern the method of filing (e.g., electronically, in person, or by post) and the form of documents. The Regulation does not override those rules; it merely prescribes the content. The ACAT also has power to extend time limits in appropriate cases, which may interact with the strict 28-day deadline in the Regulation. However, the Regulation itself does not provide for extensions; if a manager cannot meet the deadline, they would need to seek relief from the ACAT under its general powers.

Legislation Act 2001. The Regulation is a subordinate law subject to the Legislation Act. The republication and amendment processes follow that Act. Notably, section 133 of the Legislation Act sets the value of a penalty unit as $160 for an individual and $810 for a corporation, which applies to any offence in the Regulation or Act. The Regulation’s endnotes confirm this.

Foreign laws and private international law. The list of foreign countries in section 3 is relevant to the recognition of foreign guardianship orders. It interacts with the common law of private international law (which generally recognises foreign orders based on comity) and with any applicable Australian laws relating to international judicial assistance (e.g., the Trans-Tasman Proceedings Act 2010 or the Hague Convention on the International Protection of Adults, which Australia has not ratified but is under review). For countries not listed, recognition must be sought under the Act’s general provisions or through common law, which is more cumbersome. The list itself may become outdated: Yugoslavia no longer exists, and Swaziland changed its name to Eswatini. This could create uncertainty about whether an order from those territories is still covered. The Regulation also omits some OECD countries (e.g., South Korea, Mexico, Chile) and all African countries except a few Commonwealth states. Practitioners dealing with assets in non-listed countries must rely on other mechanisms.

Other ACT laws on adult guardianship. The ACT also has the Powers of Attorney Act 2006 and the Mental Health Act 2015, which deal with substitute decision-making in different contexts. The Regulation applies only under the Guardianship and Management of Property Act, so a manager appointed under a power of attorney (which is not a court order) is not subject to the Regulation. However, if an attorney applies to be appointed as manager, they would then become subject to the Regulation.

Australian Guardianship and Administration Council (AGAC) and interstate harmonisation. The Regulation does not contain provisions for interstate recognition of orders; that is handled under the Act’s own provisions and the cross-jurisdictional recognition arrangements among Australian states and territories. The list of foreign countries is unique to the ACT, but other jurisdictions may have similar lists. There is no uniform Commonwealth approach.

Consumer law and banking. The requirement to provide bank statements for all accounts may require disclosure of information that is otherwise private. The manager must ensure they have legal authority to obtain such statements. The Act presumably gives the manager the power to do so, but the Regulation does not address whether the bank is required to provide statements to the manager directly. In practice, the manager may need to rely on the appointment order to access accounts.

The Regulation was originally made as the Guardianship and Management of Property Regulations (note the plural) in 1991, notified 8 January 1992 (Gazette 1992 No S2) and commenced on that date. It has undergone several amendments, all documented in the endnotes.

2001 amendments. The Legislation (Consequential Amendments) Act 2001 (A2001-44) made various changes, including omitting section 5 (Fees) and section 7 (Waiver of fees). This removed fee-setting provisions that had existed in the original Regulation. The name of the Regulation was also changed from “Guardianship and Management of Property Regulations” to “Guardianship and Management of Property Regulation 1991” under the Legislation Act 2001, as part of standardising subordinate law naming conventions.

2008-2009 amendments. The ACT Civil and Administrative Tribunal Legislation Amendment Act 2008 (No 2) (A2008-37) removed section 4 (Applications to tribunal) and section 8 (Seal of the tribunal), consequential on the establishment of the ACAT to replace the Guardianship Tribunal. These sections became redundant because the ACAT’s procedures were governed by its own Act. The amendments took effect on 2 February 2009.

2009 amendment. The Statute Law Amendment Act 2009 (A2009-20) amended section 6 (Manager’s accounts) via amendment 3.87. The exact change is not specified in the endnotes beyond a reference to “am A2009-20 amdt 3.87”. This likely adjusted the wording of section 6 to clarify the filing obligations, perhaps aligning it with amendments to the Act.

2024 amendment (SL2024-24). The most recent amendment, the Guardianship and Management of Property Amendment Regulation 2024 (No 1) (SL2024-24), was notified on 9 September 2024 and commenced on 10 September 2024. According to the amendment history, it amended section 6 by inserting new paragraphs (a) to (e) and renumbering paragraphs (see “ss 4-6; pars renum R5 LA”). The endnotes show that the amendment substituted the current wording of section 6, including the extensive list of income categories, the requirement for bank statements, the $500 receipt threshold, and the expanded asset and liability statements. It also introduced the definition of “relevant day” with three triggers. Additionally, the list of foreign countries in section 3 was likely revised by the same amendment, as the endnote for section 3 does not show any specific amendment but the republication note suggests the list was current as of 10 September 2024. The amendment reflects a modernisation of the accounts requirements to be more detailed and to align with current financial reporting practices. The previous version of section 6 was much shorter; the current version is significantly more prescriptive.

Earlier republications. The history shows five republications: R1 (21 Feb 2002), R2 (2 Nov 2004), R3 (2 Feb 2009), R4 (22 Sept 2009), and R5 (10 Sept 2024). Each republication incorporated amendments up to that date. The transition from R2 to R3 reflected editorial amendments under the Legislation Act, and from R4 to R5 the major 2024 changes.

The Regulation itself is a subordinate instrument of a procedural nature, and the available source text does not record any judicial decisions referring to it. The ACT Legislation Register’s republication includes no case annotations. It is possible that disputes have arisen under the principal Act (e.g., about the sufficiency of accounts or the recognition of a foreign order) but such disputes would be adjudicated by the ACAT or the ACT Supreme Court and would likely cite the Act, not just the Regulation. Because the Regulation is prescriptive, litigation risks cluster around three areas.

Disputes over the adequacy of accounts. A represented person, a family member, or the Public Trustee and Guardian might challenge a manager’s accounts as insufficient or inaccurate. The ACAT would then interpret section 6 of the Regulation to determine whether the manager had filed the prescribed documents. For example, if a manager provided a summary of expenses but not the underlying bank statements for all accounts, the ACAT would need to decide whether the manager complied. The Regulation does not allow a manager to choose which documents to file; all items in section 6(1) are mandatory. Any challenge would probably focus on whether the manager had indeed provided all required statements. No reported case is known, but the potential exists.

Disputes over the list of foreign countries. If an order from a country that is not on the list is presented for recognition, the ACAT might be asked to recognise it anyway under the Act’s alternative provisions. Alternatively, a party might argue that a listed country is no longer a “foreign country” (e.g., Yugoslavia) or that the list should be read down. Given that the list is a regulation, the ACAT has no power to add countries; only amendment by the Executive can do that. The omission of a country could be litigated if a party argues it was incorrectly excluded, but the Regulation’s list is exhaustive as prescribed.

Challenges to Public Trustee and Guardian requests. The broad power of the Public Trustee and Guardian under section 6(1)(e) to request “any other document” could be challenged as unreasonable or oppressive. While the Regulation does not provide a test, a manager could apply to the ACAT for a declaration that a request is not validly within the scope of the Regulation. The ACAT would need to consider whether the requested document “relat[es] to the management of the relevant property” and whether the request is consistent with the protective purpose of the Act.

Constitutional or ultra vires challenges. It is theoretically possible that a party could argue the Regulation exceeds the regulation-making power granted by the Act. For instance, if the Act’s section 26(1) does not authorise the level of detail now required by section 6, the Regulation could be struck down as ultra vires. However, the Act’s power to prescribe documents is broad, and no such challenge has been recorded.

In summary, the Regulation has not been the subject of reported litigation in the ACT Supreme Court, and no ACAT decisions citing it are publicly noted in the source. This is consistent with its nature as a mechanical subordinate law; most disputes arise under the Act’s substantive provisions rather than its detailed rules.

Practitioners advising managers or represented persons need to watch for several traps in the Regulation that are easy to miss.

The 28-day deadline starts on the exact day of appointment, not on receipt of the order. For a newly appointed manager, the “relevant day” is “the day of the appointment of the manager” (section 6(3)(a)). This is the date the ACAT makes the appointment order, not the date the order is served on the manager nor the date the manager takes control of assets. If the manager is not present at the hearing, they may lose several days before they even know of the appointment. Mangers should immediately calendar the deadline and start gathering documents from the moment they become aware of the appointment.

Bank statements for every account must be provided for the 1-year period ending on the relevant day. This is a requirement even if the manager was appointed just yesterday. The statement must cover the full preceding 12 months (if available within the period the manager has acted). For an account that was closed two years ago, if it was held on the relevant day, the bank may not have statements for the prior year. The manager must try to obtain them; if not possible, they may need to explain the absence. The Regulation does not provide an exception for closed or dormant accounts.

**The $500 receipt threshold applies to “any one-off purchase”. The term “one-off purchase” is not defined. Does it include a series of small purchases from the same supplier that aggregate to $500? The example given (whitegoods, electronics, jewellery) suggests a single item. A manager should err on the side of caution and keep receipts for any single transaction of $500 or more, including services (e.g., home repairs) if they are one-off. Regular payments like rent or insurance may not be “one-off” but the regulation does not explicitly exclude them. The safest approach is to keep receipts for all expenditures over $500 that are not routine, recurring bills.

The phrase “budget or summary of the person’s expenses” for managers acting longer than one year is vague. The Regulation does not define what format or level of detail is required. The manager should prepare a clear, itemised list of categories of expenditure (e.g., housing, food, medical, transport) with totals. The ACAT or Public Trustee and Guardian may reject a mere list of numbers without any breakdown.

**The list of foreign countries includes Yugoslavia (no longer exists) and Swaziland (now Eswatini). Does an order from Serbia and Montenegro count? Is an order from the Kingdom of Eswatini valid? The Regulation uses the names as at the time of the 2024 amendment. A court may need to interpret whether the intent was to cover those territories despite name changes. For absolute clarity, practitioners should seek confirmation from the ACAT if relying on the list.

Countries not listed cause extra cost and delay. If a represented person has a guardian from China, India, Brazil, or most of Asia and Africa, the corresponding law provision does not apply. The ACAT would need to hear evidence about the foreign law and the appointment. This could require expert evidence and multiple hearings. The Regulation’s list is thus a significant gap.

The Public Trustee and Guardian’s request power is unlimited in scope and timing. The manager may receive a request for “any other document” months or years after filing. There is no limit on how many times the Public Trustee and Guardian can ask. The manager must respond promptly, or risk being in breach. This creates ongoing compliance risk.

No exemption for small estates. The Regulation does not distinguish between a $1,000 estate and a $10 million estate. A manager of a modest estate with minimal transactions still must gather bank statements, prepare asset estimates, and file within 28 days. The cost of compliance may exceed the value of the estate, especially if the manager is a private individual paying for document retrieval fees.

The “relevant day” definition includes an ACAT direction for earlier filing, but not a direction for later filing. If the ACAT orders documents filed within 14 days, the manager must comply. But if the manager seeks an extension, the ACAT would have to use its general powers, not rely on the Regulation.

Compliance with the Regulation is a matter of process and timing. For a manager, the following steps should be implemented.

Upon appointment or on each anniversary. Identify the relevant day: the date of appointment (for first filing) or the anniversary of that date (for subsequent years). If the ACAT directs a specific date, that date becomes the relevant day for that filing.

Immediately begin gathering documents. Obtain a list of all financial institutions where the represented person holds accounts. Request statements for each account covering the 12-month period ending on the relevant day. This should be done well before the 28-day deadline, as banks may take several weeks to provide historical statements. If statements are not available for the full period (e.g., account opened recently), provide what is available and note the period covered.

Prepare the income statement. List all income received by the represented person during the period. Use the categories in section 6(1)(a): pensions, employment (including wages, salaries, bonuses), superannuation (payments received, not total balance), investments (dividends, interest), rent (gross rents before expenses), and income from deceased estates or trusts. If the represented person has income from other sources (e.g., government benefits other than pensions, or business income), it should be included under an appropriate category or in a separate note. The Regulation does not list all sources, but the list is not necessarily exhaustive; it says “including income from the following”, so it is illustrative. Provide totals for each category.

Prepare the expenditure statement. This is in two parts. For all managers, include a bank or financial institution statement for each account. This must be the original statement or a certified copy? The Regulation says “a bank or other financial institution statement”. Provide copies, but keep originals for your files. The period: “for the 1-year period ending on the relevant day”. If the manager has not acted for a full year, the statements must still cover that period (i.e., the year before appointment) if the account existed. If the account was opened after the relevant day, the manager may not have statements for that period; in that case, explain.

For managers who have acted for a continuous period longer than one year (i.e., have served at least one full year), also provide: (A) a budget or summary of the person’s expenses; (B) a receipt for any one-off purchase of $500 or more during the 1-year period ending on the relevant day. The budget or summary should list categories of spending (e.g., housing, utilities, food, transport, medical, entertainment) with total amounts. The receipts must be for individual transactions of $500 or more. Keep all receipts, not just those over $500, but only those over the threshold must be filed. If no such purchase occurred, state that.

Prepare the asset statement. List and estimate the value of: amounts in bank accounts (include account numbers and balances as at the relevant day), real property (address, estimated market value or Council valuation), personal property (e.g., vehicles, furniture, collectibles, with estimated values - for items of modest value, a rough estimate may suffice, but for high-value items, a formal valuation may be required), and investments (e.g., shares, bonds, managed funds, with current market value). The Regulation says “estimated value”, so you are not required to get formal valuations for all items, but your estimate must be reasonable and based on available information.

Prepare the liability statement. List all creditors of the represented person as at the relevant day. Include the name of the creditor, the type of liability (e.g., credit card, mortgage, loan, unpaid bills), and the amount owed. If there are no liabilities, state that.

Respond to any Public Trustee and Guardian request. If the Public Trustee and Guardian requests additional documents, comply promptly. The Regulation does not specify a time, but it should be as soon as reasonably possible, and ideally within 28 days as well, unless the request sets a different deadline.

File the complete package. The Regulation says “filed in accordance with this regulation if they are filed within 28 days after the relevant day”. It does not say where or in what form. Likely filing is with the ACAT or its registry. Check the ACAT’s current practice directions. It may be electronic via the ACAT portal or in hard copy. Keep evidence of filing (e.g., receipt, date stamp). File all documents together. If any document is unavailable, include a signed statement explaining why.

If the ACAT directs an earlier filing date, comply with that direction. That date overrides the 28-day period.

Maintain a compliance calendar. Note the anniversary of appointment each year. Set a reminder for 28 days before the anniversary to start gathering documents, so that you meet the deadline.

Seek professional advice if unsure. The Regulation is detailed, and penalties for non-compliance can include removal and potential liability. If the manager is a private individual, they may wish to engage a solicitor or accountant to prepare the accounts. The cost can be claimed as an expense from the estate, subject to ACAT approval.

For cross-border matters. Before relying on a foreign order, check if the issuing country is on the list. If it is, the Act’s recognition provisions apply. If not, consider seeking a fresh appointment order from the ACAT under the Act’s ordinary process, or apply to have the foreign order recognised under common law. The Regulation does not help, but at least you know the gap.

Review amendments. The Regulation was amended in September 2024, so ensure your compliance systems reflect the current requirements. The list of foreign countries may be updated in future; monitor the ACT Legislation Register.