Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Schedule 2—Funeral expenses facilities

Schedule 2 Funeral expenses facilities

   

Australian Securities and Investments Commission Act 2001

1  At the end of section 12BAA

Add:

           (10)  To avoid doubt, a funeral expenses facility is not a funeral benefit for the purposes of this Act.

Corporations Act 2001

2  Section 761A (at the end of the definition of funeral benefit )

Note:          A funeral expenses facility is not a funeral benefit : see section 765B.

3  Section 761A

Insert:

funeral expenses facility means a scheme or arrangement for the provision of benefits consisting of the payment of money, on the death of a person, for the purpose of meeting the whole or a part of the expenses of and incidental to the funeral, burial or cremation of the person.

4  At the end of Subdivision D of Division 3 of Part 7.1

Add:

765B   Funeral expenses facilities are not funeral benefits

                   To avoid doubt, a funeral expenses facility is not a funeral benefit for the purposes of this Act.