Prepaid Funerals Act 2004
14Investments of funeral trust
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14 Investments of funeral trust
(1) A custodian must invest in accordance with the Trustee Act 1898 any money paid, or any other valuable consideration received, in respect of the funeral trust.
Penalty: Fine not exceeding 50 penalty units.
(2) The value of any investment made by the funeral trust, including the amount invested and any earnings, dividends or interest on that investment, is the property of the funeral trust and in any accounting of the value of the funeral trust is to be apportioned at least once each year.
(3) A person who is not the custodian or acting on the authority of the custodian may not authorise investments, payments, withdrawals or transfer of any assets or investments of the funeral trust.
Penalty: Fine not exceeding 50 penalty units.