This contains UNCERTIFIED COPY for information/reference. For authentic copy, please refer to certified copy only.  In case of any mistake, please bring it to our notice.


LegalB's Resources
QUICK LINKS: ROOT DATABASE | OVERVIEW | VERSIONS & TEXT ACCESS TIMELINE | SUBORDINATE TEXTS | COMMENTARY | POTENTIAL TRANSGRESSOR LISTS | TEST FOR TRANSGRESSIONS | EMAIL A REQUEST FOR UPDATES | HELP | CONTACT US | SEARCH SITE | LOG OUT |

South Africa
NATIONAL LEGISLATION OVERVIEWS
LegalB Logo
Pension Funds Amendment Act, No. 94 of 1997

Long title


To amend the Pension Funds Act, 1956, in relation to the payment of contributions to pension funds and the payment of benefits or rights to benefits from one pension fund to another in certain circumstances, and to provide for the levying of interest on certain payments that are received late; to prohibit a pension fund from investing in or lending to the business of its members’ employer any assets of that fund in excess of five per cent of its total assets or a greater percentage allowed by the registrar but not exceeding 10 per cent of its total assets, and to extend that prohibition to any subsidiary or holding company of such an employer that is a company; to extend the provisions governing the procedure applicable to the voluntary dissolution of a pension fund upon its total termination, to the case where a pension fund is partially terminated due to a participating employer’s withdrawal from the fund, and, in appropriate cases and subject to prescribed conditions, to empower the registrar of pension funds to exempt pension funds from the provisions of section 28(6) and (7) and provide for the registrar to authorize the liquidator of a pension fund to make provisional payments to members and beneficiaries before completion of the liquidation; to make provision for the remuneration of the liquidator of a pension fund; to repeal section 19 of the Financial Institutions Amendment Act, 1992; and to provide for incidental matters.

Table of contents

SECTION TITLE
1. Substitution of section 13A of Act 24 of 1956
2. Amendment of section 19 of Act 24 of 1956
3. Amendment of section 28 of Act 24 of 1956
4. Insertion of section 28A in Act 24 of 1956
5. Repeal of section 19 of Act 83 of 1992
6. Short title and commencement
 
Legislation Text Access Point

Versions
[To check whether a version has commenced, and how it was commenced, please see the Timeline for the Act, and the Annotated Text for the version.]
Access Official Gazette PDF  Request Subscription Fee Subscriber Access
As unamended Act 1997_094_000_19971217 EXT.LINK REQ.INFO LINK

* LegalB refers to a "version" of an Act or its sections in the format "YYYY_NNN_SSS_YYYYMMDD", which refers to "YEAR OF ACT_ACT NUMBER_SECTION OF ACT_DATE OF GAZETTE", and where "DATE OF GAZETTE" refers to the "YEAR_MONTH_DAY" on the face of the Gazette in which either the Act was originally published or in which the amending, lapsing or repealing instrument was published. Where any segment of the reference string contains only zeros, it means that information is not relevant, not made available, or unavailable.
* Unbolded grey text in square brackets is additional information provided by LegalB.
* "..." indicates further information not provided by LegalB for purpose of brevity
* An Asterisk indicates uncertainty regarding information, and a double asterisk indicates information must be read in the light of our relevant Commentary.

TOP
Copyright Rita V. Felgate 2018