Queensland Consolidated Acts

POWERS OF ATTORNEY ACT 1998 - SECT 84

84 Power to invest

(1) This section does not apply to an enduring power of attorney made under the Property Law Act 1974 .

(2) An attorney for financial matters may invest only in authorised investments.

(3) However, if, when the power became exercisable, the principal had investments that were not authorised investments, an attorney for financial matters may continue the investments, including by taking rights to issues of new shares, or options for new shares, to which the principal becomes entitled by the principal’s existing shareholding.

(4) In this section—

"authorised investment" means—

(a) an investment which, if the investment were of trust funds by a trustee, would be an investment by the trustee exercising a power of investment under the Trusts Act 1973 , part 3 ; or

(b) an investment approved by the tribunal.