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Pension Funds Act, 1956 (Act No. 24 of 1956)

Chapter II : Registration and Incorporation

4A. Registration of pension funds to which State contributes financially

 

(1) Notwithstanding anything to the contrary contained in any law, the Minister may, after consultation with the Registrar of Pension Funds, by regulation provide for a management board for a pension fund to which the State contributes financially.

 

(2) If a management board has been established for a pension fund as is contemplated in subsection (1), such pension fund may, with the consent of the Minister, apply in terms of section 4 for registration.

 

(3) When an application has been made in terms of subsection the provisions of this Act shall apply to the pension fund concerned, in so far as they can be applied, and as if the pension fund were a pension fund as defined in paragraph (b) of the definition of "pension fund organization" in section 1.

 

(4) The State President may by proclamation in the Gazette make such regulations as he may deem necessary or expedient to give effect to the provisions of subsections (1), (2) and (3), including regulations whereby—
(a) any provision of this Act or any other law is repealed or amended;
(b) the carrying on of the business of a pension fund referred to in subsection (1) is regulated from the date of the application for registration thereof until the date of registration.