(1)  In this section –

Actuary means a person who is a Fellow of the Institute of Actuaries (Australia) or another suitable person who is, in either case, approved by the Director.

(2)  On request by the Director, the custodian of a funeral trust must cause the value of the funeral trust to be determined by an Actuary.

Penalty:  Fine not exceeding 50 penalty units.

(3)  The Actuary must determine the total value of the assets and the future and contingent liabilities of the funeral trust and provide a report to the custodian and the Director accordingly.