104
CurrentRestriction on new contributors prior to transfer
Part 8Existing funeral contribution funds
Division 3Provisions applicable where business to be transferred
104 Restriction on new contributors prior to transfer
An existing funeral contribution fund shall not, after the prescribed day, accept contributions from persons who wish to become contributors in connection with the fund’s contributory funeral benefit business unless the fund has obtained the approval of the Secretary in writing—
(a)
to the admission of persons as contributors in connection with that business, and
(b)
to the rules under which the fund carries on that business in respect of those persons.
Maximum penalty—20 penalty units.
Maximum daily penalty: 2 penalty units.
Regulations
This provision refers to the regulations (prescribed day
). Made under this Act:
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