Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) This section applies to and in relation to powers which are granted to secure a proprietary interest of the donee of the power or the performance of an obligation owed to the donee of the power and are expressed in the instrument creating the power to be irrevocable.
(2) While the donee of a power to which this section applies has the proprietary interest referred to in subsection (1) or while the obligation referred to in that subsection remains undischarged, the power:
(a) shall not be revoked by the donor without the consent of the donee;
(b) is not revoked by the death, legal incapacity or bankruptcy of the donor or, if the donor is a body corporate, by its winding up or dissolution; and
(c) is not revoked upon the making of a protection order under the Aged and Infirm Persons' Property Act unless the Supreme Court expressly revokes it.
(3) Where the donor of a power is a protected person within the meaning of the Aged and Infirm Persons' Property Act , the Supreme Court may revoke or vary the terms of the instrument creating the power in such manner as the Supreme Court thinks fit.