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Prepaid Funerals Act 2004
16Insolvency of funeral business
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16 Insolvency of funeral business
If –
(a) a person carrying on a funeral business becomes insolvent or ceases to carry on that business; and
(b) the obligations under prepaid funeral agreements made by that funeral business are not transferred to another funeral business –
the custodian of the relevant funeral trust must transfer all the property and investments of the funeral trust that relate to the first-mentioned funeral business to the contributors in accordance with this Act.
Penalty: Fine not exceeding 100 penalty units.