(1) A Court shall have jurisdiction under this Part of this Act in respect of any property owned by any person—
(a) Who is domiciled or is ordinarily resident in New Zealand; and
(b) Who, in the opinion of the Court, lacks wholly or partly the competence to manage his or her own affairs in relation to his or her property.
(2) A Court shall also have jurisdiction under this Part of this Act in respect of any property situated in New Zealand and owned by any person—
(a) Who is not domiciled nor is ordinarily resident in New Zealand; and
(b) Who, in the opinion of the Court, lacks wholly or partly the competence to manage his or her own affairs in relation to his or her property so situated.
(3) The fact that the person in respect of whom an application is made for the exercise of the Court's jurisdiction is managing or is intending to manage his or her own affairs in relation to his or her property in a manner that a person of ordinary prudence would not adopt given the same circumstances is not in itself sufficient ground for the exercise of that jurisdiction by the Court.
(4) In determining whether or not it should exercise its jurisdiction under this Part of this Act in relation to any person, a Court may have regard to the degree to which the person is subject, or is liable to be subjected, to undue influence in the management of his or her own affairs in relation to his or her property.