South African Council for Educators Act, 2000
R 385
Labour Relations Act, 1995 (Act No. 66 of 1995)NoticesBargaining Council for the Furniture Manufacturing IndustryExtension to Non-Parties of the Main Collective AgreementChapter 2: Council Benefit Funds8. Expiry of the Collective Agreement |
| 8.1 | Upon the expiry of this Collective Agreement or any extension thereof, the Council or trustees in office at the time, or the trustee or trustees appointed by the Registrar of Labour Relations or the Financial Services Conduct Authority as the case may be, shall continue to administer the Funds/Schemes for a period of at least two years in order to pay out benefits due to the beneficiaries and, subject to the approval of the Registrar of Labour Relations or the Financial Services Conduct Authority as the case may be. Any money standing to the credit of the Funds/Schemes, after the said period of at least two years shall remain in the various relevant funds, until liquidation thereof. |
| 8.2 | If upon expiry of the said period of at least two years, the affairs of the Council and/or the Funds/Schemes have already been wound up and its assets distributed, the balance of the funds shall be distributed and liquidated in terms of the rules of the various Fund/Schemes, the provisions of the council's Constitution, the council's last collective agreements and any applicable legislation at the time. |
