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Key basics of Part V – General Powers of Court and Appointment of Deputies of the MCA
Documents required from the Deputy(ies)
Processing of Deputy(ies) instructions
If there is more than one Deputy being appointed in the Court Order, how would the Bank process instructions?
If there is more than one Deputy and there are conflicting instructions, whose instructions will be taken?
Will the Bank monitor the Deputy/Deputies’ transactions to ensure that they comply with the Court Order and their duties?
Will the Bank monitor and check on P’s mental capacity to confirm whether he/she has lost mental capacity?
If P has regained mental capacity, can he/she immediately start operating his/her own account?
If the Bank is notified that P has passed away, will the Bank continue to take instructions from the Deputy(ies)?
Does a Court Order issued pursuant to Part V of the MCA have a fixed term of duration?
Does a Bank that has acquired actual notice of restrictions imposed on Deputy(ies) owe a duty of care to P?
Is a Bank required or even permitted to open any other Bank accounts other than ordinary banking accounts in P’s name upon instructions from the Deputy(ies)?
Effect of a Court Order Appointing Deputy(ies) on Banking facilities
Upon the issue of a Court Order, will there be any impact on the terms and conditions governing the P’s account and/or investments?
Will the Bank issue an ATM card or allow the Deputy(ies) access to internet Banking or mobile Banking services?
What will happen to P’s credit/debit cards?
What will happen to P’s investments with the Bank?