http://www.legislation.gov.uk/asp/2000/4/schedule/2/paragraph/5/enactedAdults with Incapacity (Scotland) Act 2000AuthorisationKing's Printer for Scotland2022-10-18SCHEDULE 2MANAGEMENT OF ESTATE OF ADULT5Powers relating to investment and carrying on of business by guardian1

Subject to the following provisions of this paragraph, a guardian with powers relating to the property or financial affairs of the adult shall be entitled—

a

after obtaining and considering proper advice, to retain any existing investment of the adult;

b

to use the adult’s estate to make new investments in accordance with the management plan prepared under paragraph 1 or with the consent of the Public Guardian.

2

For the purpose of sub-paragraph (1)—

a

proper advice is the advice of a person authorised to carry on investment business in the United Kingdom for the purposes of the Financial Services Act 1986 (c. 60) who is not the guardian or any person who is an employer, employee or business partner of the guardian; and

b

the advice must be given or subsequently confirmed in writing.

3

The guardian shall keep every investment under review and in doing so shall have regard to the following principles—

a

that the investment must be prudent;

b

that there must be diversification of investments; and

c

that the investment must be suitable for the adult’s estate.

4

The Public Guardian may at any time direct the guardian to realise any investment.

5

The guardian may, subject to any direction given by the Public Guardian, carry on any business of the adult.

6

Any decision by the Public Guardian—

a

under sub-paragraph (4) as to directing the guardian to realise investments;

b

under sub-paragraph (5) as to giving directions to the guardian in carrying on the business of the adult,

may be appealed to the sheriff, whose decision shall be final.

This XML file does not appear to have any style information associated with it. The document tree is shown below.
<akomaNtoso xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xsi:schemaLocation="http://docs.oasis-open.org/legaldocml/ns/akn/3.0 http://docs.oasis-open.org/legaldocml/akn-core/v1.0/cos01/part2-specs/schemas/akomantoso30.xsd">
<portion includedIn="http://www.legislation.gov.uk/id/asp/2000/4/schedule/2/enacted">
<meta>
<identification source="#source">
<FRBRWork>
<FRBRthis value="http://www.legislation.gov.uk/id/asp/2000/4/schedule/2/enacted"/>
<FRBRuri value="http://www.legislation.gov.uk/id/asp/2000/4/schedule/2/enacted"/>
<FRBRdate date="2000-05-09" name="enacted"/>
<FRBRauthor href="http://www.legislation.gov.uk/id/legislature/ScottishParliament"/>
<FRBRcountry value="GB-SCT"/>
<FRBRnumber value="4"/>
<FRBRname value="2000 asp 4"/>
<FRBRprescriptive value="true"/>
</FRBRWork>
<FRBRExpression>
<FRBRthis value="http://www.legislation.gov.uk/asp/2000/4/schedule/2/paragraph/5/enacted"/>
<FRBRuri value="http://www.legislation.gov.uk/asp/2000/4/schedule/2/enacted"/>
<FRBRdate date="2000-05-09" name="enacted"/>
<FRBRauthor href="#source"/>
<FRBRlanguage language="eng"/>
</FRBRExpression>
<FRBRManifestation>
<FRBRthis value="http://www.legislation.gov.uk/asp/2000/4/schedule/2/paragraph/5/enacted/data.akn"/>
<FRBRuri value="http://www.legislation.gov.uk/asp/2000/4/schedule/2/enacted/data.akn"/>
<FRBRdate date="2024-11-10Z" name="transform"/>
<FRBRauthor href="http://www.legislation.gov.uk"/>
<FRBRformat value="application/akn+xml"/>
</FRBRManifestation>
</identification>
<classification source="#source">
<keyword value="authorisation" showAs="Authorisation" dictionary="http://www.legislation.gov.uk"/>
</classification>
<lifecycle source="#source">
<eventRef date="2000-05-09" type="generation" eId="enacted-date" source="#source"/>
<eventRef date="2002-04-01" type="amendment" source="#source"/>
</lifecycle>
<references source="#source">
<TLCOrganization eId="source" href="http://www.legislation.gov.uk/id/publisher/KingsOrQueensPrinterForScotland" showAs="King's Printer for Scotland"/>
</references>
<proprietary xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:ukm="http://www.legislation.gov.uk/namespaces/metadata" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dct="http://purl.org/dc/terms/" xmlns:atom="http://www.w3.org/2005/Atom" source="#source">
<dc:identifier>http://www.legislation.gov.uk/asp/2000/4/schedule/2/paragraph/5/enacted</dc:identifier>
<dc:title>Adults with Incapacity (Scotland) Act 2000</dc:title>
<dc:subject>Authorisation</dc:subject>
<dc:publisher>King's Printer for Scotland</dc:publisher>
<dc:modified>2022-10-18</dc:modified>
<atom:link rel="self" href="http://www.legislation.gov.uk/asp/2000/4/schedule/2/paragraph/5/enacted/data.xml" type="application/xml"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/resources" href="http://www.legislation.gov.uk/asp/2000/4/resources" title="More Resources"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/notes" href="http://www.legislation.gov.uk/id/asp/2000/4/schedule/2/paragraph/5/notes" title="Explanatory Notes"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/notes/toc" href="http://www.legislation.gov.uk/asp/2000/4/notes/contents" title="Explanatory Notes Table of Contents"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/act" href="http://www.legislation.gov.uk/asp/2000/4/enacted" title="whole act"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/introduction" href="http://www.legislation.gov.uk/asp/2000/4/introduction/enacted" title="introduction"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/body" href="http://www.legislation.gov.uk/asp/2000/4/body/enacted" title="body"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/schedules" href="http://www.legislation.gov.uk/asp/2000/4/schedules/enacted" title="schedules"/>
<atom:link rel="alternate" type="application/rdf+xml" href="http://www.legislation.gov.uk/asp/2000/4/schedule/2/paragraph/5/enacted/data.rdf" title="RDF/XML"/>
<atom:link rel="alternate" type="application/akn+xml" href="http://www.legislation.gov.uk/asp/2000/4/schedule/2/paragraph/5/enacted/data.akn" title="AKN"/>
<atom:link rel="alternate" type="application/xhtml+xml" href="http://www.legislation.gov.uk/asp/2000/4/schedule/2/paragraph/5/enacted/data.xht" title="HTML snippet"/>
<atom:link rel="alternate" type="text/html" href="http://www.legislation.gov.uk/asp/2000/4/schedule/2/paragraph/5/enacted/data.htm" title="Website (XHTML) Default View"/>
<atom:link rel="alternate" type="text/csv" href="http://www.legislation.gov.uk/asp/2000/4/schedule/2/paragraph/5/enacted/data.csv" title="CSV"/>
<atom:link rel="alternate" type="application/pdf" href="http://www.legislation.gov.uk/asp/2000/4/schedule/2/paragraph/5/enacted/data.pdf" title="PDF"/>
<atom:link rel="alternate" type="application/akn+xhtml" href="http://www.legislation.gov.uk/asp/2000/4/schedule/2/paragraph/5/enacted/data.html" title="HTML5 snippet"/>
<atom:link rel="http://purl.org/dc/terms/tableOfContents" hreflang="en" href="http://www.legislation.gov.uk/asp/2000/4/contents/enacted" title="Table of Contents"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/asp/2000/4/schedule/2/paragraph/5/2002-04-01" title="2002-04-01"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/asp/2000/4/schedule/2/paragraph/5" title="current"/>
<atom:link rel="up" href="http://www.legislation.gov.uk/asp/2000/4/schedule/2/enacted" title="Schedule 2"/>
<atom:link rel="prev" href="http://www.legislation.gov.uk/asp/2000/4/schedule/2/paragraph/4/enacted" title="Paragraph; Schedule 2 Paragraph 4"/>
<atom:link rel="prevInForce" href="http://www.legislation.gov.uk/asp/2000/4/schedule/2/paragraph/4/enacted" title="Paragraph; Schedule 2 Paragraph 4"/>
<atom:link rel="next" href="http://www.legislation.gov.uk/asp/2000/4/schedule/2/paragraph/6/enacted" title="Paragraph; Schedule 2 Paragraph 6"/>
<atom:link rel="nextInForce" href="http://www.legislation.gov.uk/asp/2000/4/schedule/2/paragraph/6/enacted" title="Paragraph; Schedule 2 Paragraph 6"/>
<ukm:PrimaryMetadata>
<ukm:DocumentClassification>
<ukm:DocumentCategory Value="primary"/>
<ukm:DocumentMainType Value="ScottishAct"/>
<ukm:DocumentStatus Value="final"/>
</ukm:DocumentClassification>
<ukm:Year Value="2000"/>
<ukm:Number Value="4"/>
<ukm:EnactmentDate Date="2000-05-09"/>
<ukm:ISBN Value="0105900052"/>
</ukm:PrimaryMetadata>
<ukm:Notes>
<ukm:Note IdURI="http://www.legislation.gov.uk/id/asp/2000/4/notes"/>
<ukm:Alternatives>
<ukm:Alternative Date="2008-03-02" URI="http://www.legislation.gov.uk/asp/2000/4/pdfs/aspen_20000004_en.pdf" Title="Explanatory Note"/>
</ukm:Alternatives>
</ukm:Notes>
<ukm:Alternatives>
<ukm:Alternative Date="2008-03-02" URI="http://www.legislation.gov.uk/asp/2000/4/pdfs/asp_20000004_en.pdf" Title="Print Version"/>
</ukm:Alternatives>
<ukm:Statistics>
<ukm:TotalParagraphs Value="150"/>
<ukm:BodyParagraphs Value="91"/>
<ukm:ScheduleParagraphs Value="59"/>
<ukm:AttachmentParagraphs Value="0"/>
<ukm:TotalImages Value="0"/>
</ukm:Statistics>
</proprietary>
</meta>
<portionBody>
<hcontainer name="schedules" eId="d4e60">
<hcontainer name="schedule" eId="schedule-2">
<num>SCHEDULE 2</num>
<heading>MANAGEMENT OF ESTATE OF ADULT</heading>
<paragraph eId="schedule-2-paragraph-5">
<num>5</num>
<heading>Powers relating to investment and carrying on of business by guardian</heading>
<subparagraph eId="schedule-2-paragraph-5-1">
<num>1</num>
<intro>
<p>Subject to the following provisions of this paragraph, a guardian with powers relating to the property or financial affairs of the adult shall be entitled—</p>
</intro>
<paragraph eId="schedule-2-paragraph-5-1-a">
<num>a</num>
<content>
<p>after obtaining and considering proper advice, to retain any existing investment of the adult;</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-5-1-b">
<num>b</num>
<content>
<p>to use the adult’s estate to make new investments in accordance with the management plan prepared under paragraph 1 or with the consent of the Public Guardian.</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-5-2">
<num>2</num>
<intro>
<p>For the purpose of sub-paragraph (1)—</p>
</intro>
<paragraph eId="schedule-2-paragraph-5-2-a">
<num>a</num>
<content>
<p>
proper advice is the advice of a person authorised to carry on investment business in the United Kingdom for the purposes of the Financial Services Act
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60">1986 (c. 60)</ref>
who is not the guardian or any person who is an employer, employee or business partner of the guardian; and
</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-5-2-b">
<num>b</num>
<content>
<p>the advice must be given or subsequently confirmed in writing.</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-5-3">
<num>3</num>
<intro>
<p>The guardian shall keep every investment under review and in doing so shall have regard to the following principles—</p>
</intro>
<paragraph eId="schedule-2-paragraph-5-3-a">
<num>a</num>
<content>
<p>that the investment must be prudent;</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-5-3-b">
<num>b</num>
<content>
<p>that there must be diversification of investments; and</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-5-3-c">
<num>c</num>
<content>
<p>that the investment must be suitable for the adult’s estate.</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-5-4">
<num>4</num>
<content>
<p>The Public Guardian may at any time direct the guardian to realise any investment.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-5-5">
<num>5</num>
<content>
<p>The guardian may, subject to any direction given by the Public Guardian, carry on any business of the adult.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2-paragraph-5-6">
<num>6</num>
<intro>
<p>Any decision by the Public Guardian—</p>
</intro>
<paragraph eId="schedule-2-paragraph-5-6-a">
<num>a</num>
<content>
<p>under sub-paragraph (4) as to directing the guardian to realise investments;</p>
</content>
</paragraph>
<paragraph eId="schedule-2-paragraph-5-6-b">
<num>b</num>
<content>
<p>under sub-paragraph (5) as to giving directions to the guardian in carrying on the business of the adult,</p>
</content>
</paragraph>
<wrapUp>
<p>may be appealed to the sheriff, whose decision shall be final.</p>
</wrapUp>
</subparagraph>
</paragraph>
</hcontainer>
</hcontainer>
</portionBody>
</portion>
</akomaNtoso>