New South Wales Consolidated Acts

FUNERAL FUNDS ACT 1979 - SECT 39

39 Cancellation of registration

(1) The Director-General may cancel the registration of a pre-paid funeral fund:

(a) if, in the case of a corporation:

(i) the fund is commenced to be wound up, is under official management or has ceased to act as trustee of trust funds under pre-paid contracts,

(ii) the fund has entered into a compromise or scheme of arrangement with its creditors,

(iii) a receiver and manager has been appointed, whether by the Supreme Court or otherwise, in respect of the property of the fund, or

(iv) the fund or any person concerned in the management of the fund is convicted of an offence involving fraud or dishonesty or fails to comply with a provision of this Act or the regulations,

(b) if, in the case of any group of individuals:

(i) any of those individuals becomes bankrupt, applies to take the benefit of any law for the relief of bankrupt or insolvent debtors, compounds with his or her creditors or makes an assignment of his or her estate or any part of his or her estate for their benefit,

(ii) the individuals have ceased to act as trustees of trust funds under pre-paid contracts,

(iii) any of those individuals is convicted of an offence involving fraud or dishonesty or fails to comply with a provision of this Act or the regulations, or

(iv) any of those individuals ceases to be a trustee and the number of remaining trustees is less than 3,

(c) at the request of the fund, or

(d) on any prescribed ground.

(2) The cancellation of the registration of a pre-paid funeral fund under subsection (1) (paragraph (c) excepted) takes effect upon the expiration of 28 days after notice of the cancellation is served on the fund by the Director-General or, where an appeal is lodged against the cancellation under Part 6, upon the confirmation of the cancellation or the withdrawal of the appeal.