13Accounts

13 Accounts

13 Accounts

(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 a manner that discloses their true position and enables 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.

Maximum penalty—2 penalty units.