Australian Capital Territory Current Acts

POWERS OF ATTORNEY ACT 2006 - SECT 50A

    (1)     The ACAT may order an attorney for a principal to pay an amount to the principal or, if the principal has died, the principal's estate—

        (a)     to compensate for a loss caused by the attorney's failure to comply with this Act in the exercise, or purported exercise, of a power; or

        (b)     to account for any profits the attorney has accrued as a result of the attorney's failure to comply with this Act in the exercise, or purported exercise, of a power.

    (2)     However, the ACAT must not order the attorney to make a payment under both subsection (1) (a) and (b) in relation to the same exercise, or purported exercise, of power.

    (3)     Subsection (1) applies whether or not the attorney is convicted of an offence in relation to the attorney's failure.

    (4)     The ACAT may make an order under subsection (1)—

        (a)     on its own initiative; or

        (b)     on application by an interested person in relation to the power of attorney.

    (5)     If the principal or the attorney has died, any application under subsection (4) (b) must be made—

        (a)     within 6 months after the day of the death; and

        (b)     if both principal and attorney have died—within 6 months after the day of the first death.

    (6)     In this section:

"interested person"—see section 74.