4Exemption of deposit scheme and class of prepaid funeral agreements from certain provisions of Act

4 Exemption of deposit scheme and class of prepaid funeral agreements from certain provisions of Act

(1)  For the purpose of section 28(2)(b) of the Act –

(a) a life policy is a deposit scheme which is exempt from the application of the Act or any provision of the Act; and

(b) the Catholic Development Fund is a deposit scheme which is exempt from the application of the Act or any provision of the Act.

(2)  For the purpose of section 28(2)(c) of the Act –

(a) if any money paid under a prepaid funeral agreement is to be invested in a life policy, that agreement is one of a class of prepaid funeral agreements which is exempt from the application of section 5(1)(d) , section 8(1) and section 9 of the Act; and

(b) if any money paid under a prepaid funeral agreement is to be paid to the Catholic Development Fund, that agreement is one of a class of prepaid funeral agreements which is exempt from the application of section 5(1)(d) , section 8(1) and section 9 of the Act.

Displayed and numbered in accordance with the Rules Publication Act 1953.

Notified in the Gazette on 3 February 2025

These regulations are administered in the Department of Justice.