Funeral Benefit Business Act 1982 – 1 December 2014
Funeral Benefit Business Act 1982 – 1 December 2014
Funeral Benefit Business Regulation 2010 – 1 July 2016
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Each corporation (with a pre-existing funeral benefit agreement in place prior to a provision commencement) shall maintain a trust fund in its name in a financial institution in the State in connection with the carrying on of funeral benefit business. Note: At the end of each calendar month, moneys may be required to be transferred from that trust fund to the Funeral Benefit Trust Fund maintained by the government. If such a requirement does not apply, the moneys may be able to be invested by the corporation. For trust provisions relating to new funeral benefit agreements, refer to sections 79 and 80 of the Act. For the definition of ‘funeral benefit business’ (and the connected definition of ‘funeral benefit’), refer to section 5 of the Act.
- Sections 5, 8, 9, 11, 14, 15, 16, 17, 19, 20, 24, 25, 38, 39, 40, 41, 42, 43, 47, 48, 66, 73, 79, 80; Regulations 14, 15, 17, 21, 22, 24, 25, 26, 27, 28, 29, 30, 31, 32, 34, 39, 41, 42
A person may make an application for payment from the trust fund or the Funeral Benefit Trust Fund. The payment of the type applied for may be paid out if in the circumstances, it is a just outcome. Note: Where there is a claim dispute, the government has the power to settle such dispute pursuant to section 62 of the Act. To refer a dispute for settlement, an application must be made in an approved form pursuant to regulation 46 of the Funeral Benefit Business Regulation 2010.
- Sections 8, 18, 24, 41, 62; Regulations 39, 46
The rules relating to the funeral benefit business of certain corporations (with a pre-existing funeral benefit agreement in place prior to a provision commencement) must contain provisions covering the matters set out in section 32 of the Act.
- Sections 24, 32; Regulations 39, 40
A corporation registered to carry on funeral benefit business shall not dispose of or mortgage, charge or otherwise encumber any property forming part of its trust fund without the approval of the government.
- Sections 24, 41
A corporation may only assign or dispose of any funeral benefit business carried on by it and all property vested in or held by it in relation to the business to another entity with the prior approval of the government.
- Sections 49, 50, 52, 58, 59, 60, 63
A rule or an amendment of a rule in respect of funeral benefit business of a registered corporation (as defined by this Act) is not valid unless it has been registered by the government. Note: There is an approved form application process for amendment of the rules. An amendment application must be accompanied by a copy of the proposed amendment signed by the chairperson and secretary.
- Sections 5, 58, 61; Regulations 39, 44, 45
A person may request a copy of the rules relating to the funeral benefit business of a registered corporation (as defined by this Act). Note: a fee is payable.
- Sections 5, 58, 61
A registered corporation (as defined by this Act) shall not advertise in relation to funeral benefit business unless it has obtained the prior approval in writing of the government.
- Sections 5, 58, 70
Before entering into a new funeral benefit agreement, an entity must give the person a clear and legible written statement (‘a client care statement’) in the approved form. After giving the person the client care statement and before entering into the agreement with the person, the entity must: (a) explain the contents of the client care statement to the person; and (b) obtain a written acknowledgement from the person that the person has received and understands the client care statement.
- Sections 73, 74, 78
Immediately after entering into a funeral benefit agreement with a person, an entity must give the person a signed copy of the agreement. Note: Within 30 clear days after the entity gives the person the signed copy of the funeral benefit agreement, the person may, by signed notice given to the entity, end the agreement.
- Sections 73, 75, 76, 77
Reason for law
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