sec.38Funeral benefit business trust fund account

sec.38 Funeral benefit business trust fund account

A corporation registered under this part shall maintain in its name in a financial institution in the State in respect of the carrying on of funeral benefit business an account called a funeral benefit business trust fund account. Maximum penalty—2 penalty units. The corporation shall pay into its funeral benefit business trust fund account— all contributions paid to it subsequent to registration; and interest, rents, dividends or other income or returns required to be paid into or credited to the account pursuant to section 40 (3) ; and any other moneys required to be paid into or credited to the account pursuant to any provision of this Act; and moneys in the account shall be kept separate from any other moneys of the corporation and accounted for separately. Maximum penalty—2 penalty units. An offence against subsections (1) or (2) is a continuing offence and may be charged in 1 or more complaints for periods the offence continues. Maximum penalty for each day the offence continues after a conviction against subsection (1) or (2) —1 penalty unit. s 38 amd 1997 No. 17 s 12 ; 2003 No. 73 s 155 (sec.38-ssec.1) A corporation registered under this part shall maintain in its name in a financial institution in the State in respect of the carrying on of funeral benefit business an account called a funeral benefit business trust fund account. Maximum penalty—2 penalty units. (sec.38-ssec.2) The corporation shall pay into its funeral benefit business trust fund account— all contributions paid to it subsequent to registration; and interest, rents, dividends or other income or returns required to be paid into or credited to the account pursuant to section 40 (3) ; and any other moneys required to be paid into or credited to the account pursuant to any provision of this Act; and moneys in the account shall be kept separate from any other moneys of the corporation and accounted for separately. Maximum penalty—2 penalty units. (sec.38-ssec.3) An offence against subsections (1) or (2) is a continuing offence and may be charged in 1 or more complaints for periods the offence continues. Maximum penalty for each day the offence continues after a conviction against subsection (1) or (2) —1 penalty unit.

• (a) all contributions paid to it subsequent to registration; and
• (c) interest, rents, dividends or other income or returns required to be paid into or credited to the account pursuant to section 40 (3) ; and
• (d) any other moneys required to be paid into or credited to the account pursuant to any provision of this Act;