Victorian Numbered Acts

POWERS OF ATTORNEY ACT 2014 (NO. 57 OF 2014) - SECT 65

    (1)     Despite section 64, an attorney for financial matters under an enduring power of attorney may enter into a conflict transaction if the principal, before the time of the transaction, authorises the attorney to enter into—

        (a)     the transaction; or

        (b)     the kind of transaction; or

        (c)     conflict transactions generally.

    (2)     Despite section 64, an attorney for financial matters under an enduring power of attorney may continue a conflict transaction that the attorney has entered into and that is not completed, if—

        (a)     the principal validates the entering into of the transaction; and

        (b)     at the time of validation the principal has decision making capacity for the transaction.

    (3)     Despite section 64, the principal under an enduring power of attorney may validate a conflict transaction an attorney for financial matters under an enduring power of attorney has entered into that has been completed if, at the time the principal gives the validation, the principal has decision making capacity for the transaction.

    (4)     Despite section 64, an attorney for financial matters under an enduring power of attorney may enter into a conflict transaction if VCAT, before the time of the transaction, authorises the attorney to enter into—

        (a)     the transaction; or

        (b)     the kind of transaction; or

        (c)     conflict transactions generally.

    (5)     Despite section 64, VCAT may validate a conflict transaction that an attorney for financial matters under an enduring power of attorney has entered into that has been completed.

    (6)     A transaction that is validated by the principal under subsection (2) or (3) or VCAT under subsection (5) is taken to be valid from its commencement.

    (7)     In this section—

"conflict transaction" means a transaction that an attorney must not enter into under section 64.