108
CurrentPerpetual care trust—licensee receipt
Part 7Perpetual care trusts
108 Perpetual care trust—licensee receipt
(1)
This section applies if—
(a)
a perpetual care trust is established for a facility; and
(b)
the licensee of the facility receives a licensee receipt for the facility.
(2)
The perpetual care trust percentage of the licensee receipt must be paid into—
(a)
if the licensee is the authority—the authority perpetual care trust for the facilities; and
(b)
if the licensee is not the authority—the licensee perpetual care trust for the facility.
This Act’s bill:Explanatory statementSecond reading speech
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