New South Wales Consolidated Acts

FUNERAL FUNDS ACT 1979 - SECT 30

30 Procedure where deficiency in assets or management expenses unduly high

(1) If the Director-General is satisfied that, as a result of an actuarial investigation under section 28 or of an inquiry instituted by the Director-General:

(a) the assets of a funeral contribution fund are insufficient to meet its liabilities, or

(b) the rate of the management expenses of a funeral contribution fund is unduly high,

the Director-General may, by notice served on the fund, give such directions to the fund as the Director-General considers necessary in the circumstances.

(2) The Director-General must not give a direction under subsection (1) without the approval of the Minister.

(3) A funeral contribution fund must comply with a direction given to it under subsection (1).

Maximum penalty: 10 penalty units.