U3 is deactivating the signal from the "turn ON" button.
It's not possible to turn on the system when the "turn off" button is closed.
When the "turn on" button is closed the circuit is oscillating, because inrush current is turning it off.
This can be avoided by veveral methods. For example, the user can be forced to press additional button to "unlock" the latch after the overcurrent protection is triggered.
Of course, the inrush curren should be limited to make circuit turn on properly.
To test behaviour of the circuit without inrush current, remove C1 (or make it 1pf).
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