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

Board Notices

Purchase

In terms of section 2(5)(a) of the Act, a fund which has assets less than R6 000 000 at its financial year-end is exempted from the requirements in—

(a) section 9(1) of the Act to appoint an auditor; and

(b) section 15(1) of the Act to have its financial statements audited and reported on by an auditor,

on condition that—

(a)	such fund must, in terms of section 15(4) of the Act, within six months from the expiration of its financial year furnish to the registrar its annual financial statements in the format set out in paragraph 3 of this notice; and

(b)	the registrar may at any time instruct a fund which has been so exempt to perform an audit within a reasonable period for submission to the registrar.