Fair Trading Deputy Commissioner Steve Griffin today urged NSW consumers and the funeral industry to have their say on the draft Funeral Funds Regulation 2011.

Mr Griffin said the draft Regulation retains consumer protection measures vital to people who are making decisions at a particularly vulnerable time.

“The proposed Regulation supports the objectives of the Funeral Funds Act which aims to protect consumers’ money paid in advance for funerals and ensure they are provided with up-front information about pre-paid funeral contracts,” he said.

“The Regulation will continue to promote a viable funeral fund industry in New South Wales by providing for Government oversight of funeral funds and ensuring that consumers receive important information about pre-paid funeral contracts.”

The Regulation details the:

• registration requirements for funeral funds;
• information to be included in financial returns and in annual reports to contributors;
• accounts and registers that funeral funds must keep;
• information to be provided to a consumer before entering into a pre-paid funeral contract; 
• cooling-off period for a pre-paid contract; and 
• details of the proposed funeral service which are to be included in a pre-paid contract.

Mr Griffin said all interested members of the public and industry will have to the end of July to submit their comments.

“Input during the consultation period will help inform the Government of the impacts and current issues facing the funeral industry and how best to address them,” he said.

“I urge everyone to make the most of this opportunity to have their say on the draft regulation.”

Comments on the draft regulation can be lodged with Fair Trading up until close of business 29 July.

A copy of the proposed regulation can be downloaded from the Comment on proposed legislation page on the NSW Fair Trading website. 

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