Section 115 Section 113 powers: property and affairs

Not yet in force

(1)

The powers under section 113 as respects P's property and affairs extend in particular to—

(a)

the control and management of P's property;

(b)

the sale, exchange, charging, gift or other disposition of P's property;

(c)

the acquisition of property in P's name or on P's behalf;

(d)

the carrying on, on P's behalf, of any profession, trade or business;

(e)

the taking of a decision which will have the effect of dissolving a partnership of which P is a member;

(f)

the carrying out of any contract entered into by P;

(g)

the discharge of P's debts and of any of P's obligations, whether legally enforceable or not;

(h)

the settlement of any of P's property, whether for P's benefit or for the benefit of others;

(i)

the execution for P of a will;

(j)

the exercise of any power (including a power to consent) vested in P whether beneficially or as trustee or otherwise;

(k)

the conduct of legal proceedings in P's name or on P's behalf.

(2)

No will may be executed by virtue of subsection (1)(i) at a time when P is under 18.

(3)

The powers under section 113 as respects any matter concerning P's property and affairs (except the power to execute a will for P) may be exercised even if P is under 16 if the court considers it likely that P will still lack capacity to make decisions in respect of that matter when P reaches 18.

(4)

Schedule 5 supplements the provisions of this section.

(5)

Subsection (1) is subject to section 117 (restrictions on deputies).