69Appointment and powers of administrator of pre-paid funeral fund

#### 69 Appointment and powers of administrator of pre-paid funeral fund 69 Appointment and powers of administrator of pre-paid funeral fund > > (1) Subject to this Division and with the approval of the Minister, the Secretary may, by instrument in writing, appoint an administrator to administer the affairs of a pre-paid funeral fund if— > > > > > (a) the fund has failed to account for any money paid or other valuable consideration given to the fund under a pre-paid contract, > > > > > (b) after being notified by the Secretary of any contravention of a provision of this Act or of the regulations, the fund has failed to remedy the contravention to the extent that it is capable of remedy, or has committed a further contravention of the provision, > > > > > (c) following an inquiry into the affairs of the fund under Division 2, the Secretary is of the opinion that, in the interests of the persons who have entered into pre-paid contracts in respect of which the fund acts as trustee, an administrator ought to be appointed to conduct the affairs of the fund, or > > > > > (d) the Secretary has cancelled the registration of the fund under section 39 and the Secretary is satisfied that the appointment of an administrator is necessary or desirable in order to protect the interests of persons who have entered into pre-paid contracts in respect of which the fund acts as trustee. > > > (2) On the appointment of an administrator under subsection (1), the Secretary shall serve on the pre-paid funeral fund a copy of the instrument of appointment and thereupon— > > > > > (a) the affairs of the fund shall be administered by the administrator until the administrator’s appointment is terminated under this Division, > > > > > (b) the administrator shall be the trustee of trust funds paid or given to the fund under pre-paid contracts entered into before the appointment and the fund shall cease to act as trustee of those trust funds, and > > > > > (c) the administrator shall be the trustee of trust funds that are required to be paid or given to the fund under pre-paid contracts entered into after the appointment. > > > (3) Subject to this Division, an administrator appointed under this section— > > > > > (a) shall, as soon as practicable after the administrator’s appointment as such, take into the custody or under the control of the administrator all the property and things in action that appear to be held in trust by the pre-paid funeral fund under pre-paid contracts, and > > > > > (b) shall, subject to and in accordance with any direction given to the administrator by the Secretary, conduct the affairs of the fund in such manner as the administrator thinks most beneficial to the interests of the persons who have entered into pre-paid contracts in respect of which the administrator acts as trustee.