19Annual returns

19 Annual returns

(1)  A person carrying on a funeral business must before 31 December in each year lodge with the Director a return for the period ending on 30 June in that year stating –

(a) the total number of prepaid funeral agreements that he or she has made where the funeral services have not yet been supplied; and

(b) the name and location of any funeral trust into which payments under those agreements have been made; and

(c) the total amount of all contributions by the funeral business to the funeral trust.

(2)  The custodian of a funeral trust must before 31 December in each year lodge with the Director an annual return for the previous financial year including –

(a) a statement of the value of the funeral trust and an estimate of the future and contingent liabilities of the funeral trust or, where requested by the Director under section 18(2) , the value of the funeral trust and an estimate of the future and contingent liabilities of the funeral trust as determined under section 18(3) ; and

(b) a report by an auditor in respect of the funeral trust stating whether the custodian has, in the opinion of the auditor, kept proper accounting records in respect of the funeral trust and has maintained a register in accordance with section 17 ; and

(c) such statements as in the opinion of the auditor are adequate to explain the financial transactions of the funeral trust both during and at the end of that financial year and the financial position of the funeral trust at the end of that financial year.

Penalty:  Fine not exceeding 100 penalty units.