50Effect of management of estate

50 Effect of management of estate

50 Effect of management of estate

(1) A power of attorney is not terminated by the estate of the principal becoming subject to management under the NSW Trustee and Guardian Act 2009 (a managed estate).

(2) Subsection (1) has effect subject to the terms of the instrument creating the power.

(3) A power of attorney is suspended while the estate of the principal is a managed estate.

(4) Despite subsection (3), if the Civil and Administrative Tribunal, in making a financial management order under section 25E of the Guardianship Act 1987 in relation to a principal, excludes a specified part of the principal’s estate from the order, the Civil and Administrative Tribunal may order that the power of attorney is to remain in force in respect of so much of the estate as is excluded from the financial management order concerned.

(5) The Civil and Administrative Tribunal may make a similar order in respect of so much of the estate of the principal as is not managed estate, but only if the estate is a managed estate because of a financial management order made by the Civil and Administrative Tribunal.

(6) Despite subsection (3), where an attorney under a power of attorney does an act within the scope of the power while the estate of the principal is a managed estate, the act of the attorney has no less validity and effect than the act of the attorney would have had if this section had not been enacted, but this subsection does not affect the operation of subsection (9).

(7) While a power of attorney is suspended by this section, the Supreme Court may restore the power of attorney to operation to such extent, and on such terms and conditions, as the Supreme Court thinks fit.

(8) The Supreme Court may restore a power of attorney to operation under subsection (7) as from any time whether before or after the order of restoration is made or takes effect.

(9) If the estate of a principal is a managed estate, the Supreme Court may—

(a) terminate the power of attorney, or

(b) order that the power of attorney be subject to such conditions as the Court thinks fit.