New South Wales Consolidated Acts

FUNERAL FUNDS ACT 1979 - SECT 16C

16C Registration of previously exempt person to carry on contributory funeral benefit business

(1) On receipt of an application for registration from a person under section 16B, the Director-General may:

(a) register the person to carry on contributory funeral benefit business, or

(b) register the person to carry on contributory funeral benefit business, subject to conditions, or

(c) refuse to register the person.

(2) The Director-General may waive the whole or any part of a fee to be taken in the office of the Director-General for registration of such a person.

(3) The Director-General may register a person to carry on contributory funeral benefit business even if the Director-General is satisfied of the matters referred to in section 14 (2) if the Director-General is satisfied that registration of the person subject to conditions would protect contributors to the fund.

(4) Without limiting the conditions that may be imposed under subsection (1) on a registration, the conditions may include the following:

(a) a requirement that the fund comply with specified reporting provisions, for example, by notifying the Director-General of any change in financial status and particulars of where contributions to the fund are held,

(b) a requirement that the fund must not accept after registration any new contributors to the fund.

(5) The Director-General may exempt a person registered under this section from complying with such of the provisions of this Act or the regulations as the Director-General considers appropriate having regard to all of the circumstances in which the person carries on contributory funeral benefit business.

(6) If the Director-General refuses, under this section, to register a person to carry on contributory funeral benefit business, the person must, within the period directed by the Director-General, transfer any contributions held by the person to a funeral contribution fund.

(7) Despite any other provision of this Act, the Director-General may, under this section, register an individual to carry on contributory funeral benefit business and the Act applies to that funeral contribution fund in the same way it applies to a funeral contribution fund that is a company, with any necessary changes.