Alteration or addition to rules of funeral contribution fund
15 Alteration or addition to rules of funeral contribution fund
An alteration of or addition to the rules of a funeral contribution fund shall not have any force or effect until it is approved in writing by the Secretary.
An application made to the Secretary for an approval under subsection (1) shall be accompanied by such documents as may be prescribed.
The Secretary shall refuse to approve an alteration of or addition to the rules of a funeral contribution fund under subsection (1) if the Secretary is satisfied that the fund, by reason of the alteration or addition—
will not be able to carry on contributory funeral benefit business successfully, or
would be a company not entitled to be registered under section 13.
Where a company is not entitled to be registered to carry on contributory funeral benefit business unless under its rules provision is made for a matter prescribed for the purposes of section 13 (1) (i), the Secretary may direct a funeral contribution fund that was so registered before that matter was prescribed, by notice served on the fund, to make, within such time as is specified in the notice, such alterations of or additions to its rules as are specified in the notice in order that provision is made for that matter.
A funeral contribution fund shall comply with a direction given to it under subsection (4).
Maximum penalty (subsection (5)): 20 penalty units.
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