20210312 - Owners Consent · EXE21/0023

Note:

a be made in the way that is least restrictive of the principal's rights;

Mm ~~ where possible, take account of the principal's views and wishes, along
with information given by the principal's health-care provider.

Financial decisions

Any investments you make on the principal's behalf while he/she lacks the
capacity to make financial decisions must be those that are named in the Trusts
Act as investments a trustee is authorised to make or are approved by the Court.

Reference to Court includes the Supreme Court or the Guardianship and Administration Tribunal.

For all decisions

If the principal has other attorneys, you must consult with them regularly and
make your decisions as directed in clauses 5 and/or 13. If you are a joint
attorney, for example, you and the other attorney/s must make your decisions
unanimously.

Specific responsibilities

a Duty to keep records. If you have the power to make financial decisions,
you must keep reasonable records of dealings and transactions made
under the power. It is an offence not to do so, and the Court or Adult
Guardian may require you to produce them.

H Duty to keep property separate. You must keep your property separate
from the principal's property unless you and the principal own the property
jointly.

a Duty to present a management plan and get approval for unauthorised
transactions. If you make a financial decision, you must present a plan of
management to the Court if the Court requires it.

If the principal's capacity to make decisions is impaired, you must also get
approval from the Court for any transactions that have not been
authorised in this document.

a Duty to avoid transactions that involve conflict of interest. You must not
enter into transactions that could or do bring your interests (or those of
your relation, business associate or close friend) into conflict with those of
the principal. For example, you must not buy the principal's car unless you
pay at least its market value.

However, you may enter into such a transaction if it has been authorised in
this document or by the Court, or if the transaction provides for the needs
of someone that the principal could reasonably be expected to provide for,
such as his/her child.

H Duty in relation to gifts. You must not give away the principal's property
except where the principal would be likely to do so, for example as a
marriage gift to a relation of the principal or a donation to his/her favourite
charity (so long as the size of the gift is reasonable in the circumstances).

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