13Duty of funeral trust to refund payments

13 Duty of funeral trust to refund payments

(1)  Where a prepaid funeral agreement is terminated under this Act, a person carrying on the funeral business must immediately notify the custodian of the relevant funeral trust of the termination.

(2)  On receiving notification, the custodian must make any payments to a contributor as are required by this Act within 14 days or any longer period allowed by the Director, less –

(a) any reasonable costs as prescribed by the regulations; and

(b) any amounts properly payable to the funeral business.

Penalty:  Fine not exceeding 5 penalty units.