sec.77Consequences of exercising rights in cooling-off period

sec.77 Consequences of exercising rights in cooling-off period

If the person ends a funeral benefit agreement under section 76 — the entity is entitled to the amount prescribed under a regulation or, if no amount is prescribed, $50; and the entity must refund to the person the whole of the amount the person has paid to the entity under the agreement, other than an amount the entity is entitled to under paragraph (a) ; and subject to paragraph (a) , the person is not liable to the entity in any way for ending the agreement. The entity must refund the amount mentioned in subsection (1) (b) within 7 days after receiving the person’s notice. Maximum penalty—134 penalty units. Subsection (1) (c) has effect despite anything to the contrary in the contract. s 77 ins 2003 No. 73 s 184 (sec.77-ssec.1) If the person ends a funeral benefit agreement under section 76 — the entity is entitled to the amount prescribed under a regulation or, if no amount is prescribed, $50; and the entity must refund to the person the whole of the amount the person has paid to the entity under the agreement, other than an amount the entity is entitled to under paragraph (a) ; and subject to paragraph (a) , the person is not liable to the entity in any way for ending the agreement. (sec.77-ssec.2) The entity must refund the amount mentioned in subsection (1) (b) within 7 days after receiving the person’s notice. Maximum penalty—134 penalty units. (sec.77-ssec.3) Subsection (1) (c) has effect despite anything to the contrary in the contract.

• (a) the entity is entitled to the amount prescribed under a regulation or, if no amount is prescribed, $50; and
• (b) the entity must refund to the person the whole of the amount the person has paid to the entity under the agreement, other than an amount the entity is entitled to under paragraph (a) ; and
• (c) subject to paragraph (a) , the person is not liable to the entity in any way for ending the agreement.