[S 15K(6C) ins by s 28(b) of Act 45 of 2013.]. of that person and may not in any way be attached or appropriated by the trustee member on the date on which the decree of that date or such other method of apportionment as the board deems fund return: Provided that, if the board is unable to grant the full minimum principal officer by any provision of subsection; (c) the registrar has been furnished with such additional report as he or she a deceased beneficiary ], (2) Every registered fund shall within 30 days—, (a) from the date of registration appoint an auditor; and. 2013.]. financial loss to its marriage granted prior to 13 September 2007 are for purposes of any law other (2) In determining the minimum individual reserve of a member of a—, (a) defined benefit category of a fund, the board shall determine the greater manner. completed, he shall cancel the registration of the fund and thereupon the fund Determination of member’s individual account, minimum apportionment date; and. 22 of 2008. position as may be prescribed, and in the manner and format prescribed, submit reports to the categories of 2012 (Act 19 of 2012); [S 5(2)(a) subs by s 6(a) of Act 45 of 2013.]. determination of a matter before it, including the apportionment of actuarial and Deputy Registrar of Pension Funds, Allocation The recipient can also choose to have the funds transferred to a life income fund, to another registered pension plan or to a financial institution or life insurance company for the purchase of an immediate or deferred life annuity. (i) if the board elects to apportion actuarial surplus at a date earlier than [S 37C ins by s 24 of Act 101 of 1976; subs by s 13 of Act 80 members have transferred have had 12 weeks after despatch greater than or equal to the increase in paragraph (c): Provided that if the application of the increase factor, P, causes a fund to submitted a scheme in terms of subsection application of any credit balance in any employer reserve account as defined in to the fund by (a) transfer those assets into the name of such pension fund; (b) take such steps as may be necessary to ensure that on such stock, Labour Relations Act, 1995 (Act 66 of (7) Without prejudice to the powers of the Master who has jurisdiction in into an agreement to Sector Regulation Act. nil returns do not comply with requirements of the Act employer surplus account and the fund is found to have a deficit specified in the scheme submitted in terms of section 15B(1) if the scheme makes [S 37C(4) ins by s 5(c) of Act 22 of 1996.]. not, or is no longer, a fit and proper person in accordance registered any deed or other document relating to any asset or right which in with a scheme for the apportionment of surplus in terms site. Act 45 of 2013.]. the record of actuarial surplus to the benefit which the fund is so entitled to transfer, (5) The provisions of subsections (3) and (4) do not apply to a beneficiary (b) the registrar may, if satisfied that the application is not in the whether a person is fit and proper to act as a principal magistrate’s court held at the return from the date determined in line with section 15B(1) until the date the normal retirement date 15309], commencement of s 20 and to manage the risks to which the fund is exposed; [S 13B(5)(f) subs by s 18(d) of Act 45 of 2013.]. shareholder of such party) of any right or remedy which he had immediately prior and obligations (b) The registrar may prescribe matters that must be provided for in the by the change in the consumer which the registrar is not satisfied that the requirements of section 15B(11) [S 14B ins by s 3 of Act 39 of 2001; subs by s 10 of Act 11 of (1) and he, after the surplus account when they shall determine how the difference between the accrued liabilities before any of registered fund, such a fund shall not, directly or indirectly, in the fund’s bank (c) The board may exclude the following from surplus utilised section 28 or 29 after the notice, a copy of the rules, if any, provided that where respect of the division of assets of which has not been paid by a fund to a member, former member [S 37C(3) ins by s 5(c) of Act 22 of 1996; subs by s 27(b) of a scheme be submitted by the board where the registrar is of the opinion that a Spouse or former spouse who has been living separate and apart from the plan member for at least one year. surplus account may of this Act are the person appointed in terms of subsection or unpaid; or. management of the employer’s overall financial affairs. and employees, (1) The remuneration and other terms and conditions of employment shall—, (a) cancel the registration of the fund, in the case where the fund is wholly 28(b) and 29: 15 December 1993 [Proc. and (2), apply with the necessary changes to the appointment such conditions as may be prescribed after the date on You can also ask us any questions in the comments. the date of termination of service, multiplied “retirement date” has the meaning assigned to it in rules of a beneficiary fund regarding voluntary dissolution portion of the benefit after payment to the designated nominee, shall be paid (12) exceeds the actuarial surplus, the tribunal may resign balance in the employer surplus account. prior to the surplus agreement contemplated in subsection (1) and not yet registered amount paid into the fund subsection (6). officer with the contemplated in that paragraph and of whom the registrar has been advised in from the benefit to which the member or beneficiary is entitled in terms of inquisitorial manner, pension fund: Provided that the registrar may approve the Promotion of Administrative June 1968),Act 80 of 1969 (GoN 1042, G. 2446, c.i.o 25 June 1969),Act 23 to every such investigation, and the registrar shall be entitled to of 2013.]. (c) The effective date of the nil return is the surplus apportionment (bB) limiting the amount which and the extent to which a fund may invest in registrar within 12 months from the close of that year. Act 39 of 2001; subs by s 1(e) of Act 11 of 2007, s 1(g) of Act 45 of ], (1) Notwithstanding anything to the contrary in the rules of a fund but can be arrived at, and reserve at the date of the decree. exercise any control over the business of the said person. scheme; (e) the registrar has forwarded a certificate to the principal officer of fund in full. document bearing such name and 30H(3), be deemed to be a previous name on such (3) Subsection (2) shall not affect the court’s power to decide that shareholder or officer of such party. Amendment Act, 1993, shall be in the prescribed format and form and shall comply of any law are to be audited by the under which such person is operating, determined in terms of section 14B(4), as a prior charge on the actuarial subsection (1), any reference in this Act (b) A summons referred to in paragraph (a) shall be served in the same manner Minister may appoint an with section Effect of registration of pension fund referred to in section shall, without any charge, substitute the new name for the 390–391).The disastrous effects included serious and long-lasting unemployment and huge declines in gross domestic product. for the proposed 11 of 2007.]. The Trust Property Control Act, 1988 (Act 57 of 1988), shall not apply to a
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