New South Wales Repealed Regulations

This legislation has been repealed.

FUNERAL FUNDS REGULATION 2001 - REG 16

16 Accounts and register

(1) A pre-paid funeral fund must keep accounts of all trust funds under pre-paid contracts for which the fund acts as trustee in such a manner as to disclose their true position and to enable the accounts to be conveniently and properly audited.

(2) In particular, the accounts must contain, in relation to each pre-paid contract for which the fund acts as trustee:

(a) the name and address of each person who is a party to the contract, and

(b) the date and file reference of the contract, and

(c) particulars of each amount of money paid or other valuable consideration given in respect of which the fund acts as trustee.

(3) A pre-paid funeral fund:

(a) must keep a register of investments in or to the effect of the approved form, and

(b) within 7 days after purchasing or realising an investment, or receiving interest on it, must enter details of that transaction in the register.

Maximum penalty: 2 penalty units.