New South Wales Repealed Acts New South Wales Repealed ActsThis legislation has been repealed.
(1) Where the Court or the Guardianship Tribunal (under section 25M (1) (a) of the Guardianship Act 1987 ) appoints a manager of the estate of a protected person or protected missing person, it may require the manager to give security, including security comprising the assets of the protected person or protected missing person, to the Protective Commissioner in respect of the management.
(2) Security shall be deemed not to have been given by a manager as referred to in subsection (1) unless it has been approved by the Protective Commissioner.
(3) It is the duty of the Protective Commissioner to see that the conditions of all bonds given (whether before, on or after the day referred to in section 2 (2)) by the manager of the estate of a protected person or protected missing person or by any other person in relation to the estate of a protected person or protected missing person are faithfully and regularly observed and performed and to report immediately to the Court any breach or non-performance of any such condition.
(4) The provisions of Part 7A of the Bail Act 1978 and Part 7 of the Fines Act 1996 apply to the forfeiture of any security under a bond and to the recovery of any security so forfeited in the same way as they apply to the forfeiture of bail money and to the recovery of any bail money so forfeited.
(5) Any amount lodged with the Protective Commissioner as security under this section may, subject to any order of the Court, be invested by the Protective Commissioner in any investment in which a trustee may invest trust funds in accordance with the Trustee Act 1925 .