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

Regulations

Schedules

Schedule M : Application for Approval as an Administrator in terms of Section 138 of the Pension Funds Act, 1956

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SCHEDULE M

APPLICATION FOR APPROVAL AS AN ADMINISTRATOR IN TERMS OF SECTION 138 OF THE

PENSION FUNDS ACT, 1956

SECTION 1 (To be completed by all applicants)

1.	Full name of proposed administrator.

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2. Details of corporate status, registered number and registered address.

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3.	Address where business is being conducted.

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4.	Postal Address.

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Telephone Number .............................................. Facsimile ........................................

6. Date on which financial year ends.

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Name and address of accounting person contemplated in condition 1 of the Conditions*. Give full particulars of the firm of accountants or auditors and specify one or two specific members of the firm as the bearer of the responsibilities in terms of the Regulations and the Conditions. If approval of a person to be acting as accounting person is required, please furnish full details including qualifications and experience of the person to be approved.

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8.	Name and address of person who will be in charge of the administration of pension funds.

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9.	Is the person referred in paragraph 8 fully conversant with the provisions of the Act. Regulations, Conditions and the Financial Institutions (Investment of Funds) Act, 1984?

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10.	Will the administration of pension funds be conducted in such a way to comply with all applicable provisions?

…………………………….........................................................................................................

11.	Bank and branch where accounts of administrators are kept:

Current account .................................... Trust account (if any) .....................................

12.

The names, identity number and addresses of the administrator's owners, partners, members (if close corporation) or its shareholders and directors (if a private company or unlisted public company), its directors (if a listed public company) and the shareholders and directors of the holding company (if a private company or unlisted public company) or directors of the holding (company if a listed public company) are as follows:

Name	Identity Number	Shares	Address

13.

The names (A), identity numbers (B), business telephone numbers (C), home telephone numbers (D), four business references (E), current employers (F), and qualifications and experience (G) of the administrator's members, directors, partners, owners and/or employees on the first and second level of the hierarchy involved in the administration of pension funds.

A	B	C	D	E	F	G

14.

Whether any of the persons referred to in paragraph 13 have ever been convicted of an offence resulting from dishonesty, fraud or embezzlement (H), whether any of these persons were a controlling shareholder or director of a company or close corporation at the time it was placed under judicial management or in liquidation (I), whether the estate of any such person has ever been sequestrated (J), whether any such person has been subject to disciplinary proceedings by an employer or regulatory body (K), and whether any such person has been barred from entry into any profession or occupation (L):

15.	Do your current assets exceed current liabilities as contemplated in condition 7.2 of the Conditions*.

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16.	Do your liquid assets equal or exceed 8/52 x annual expenditure as contemplated in condition 7.3 of the Conditions*

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SECTION II

(Only to be completed by administrators in existence at the date of coming into operation of the Regulations in terms of which this Schedule was added to the Regulations)

1. Number of register& and unregistered pension funds currently being administered:

Registered ...............................................Unregistered ......................................................

2.	Are your administration agreements with pension funds in writing and do they conform with the provisions of condition 3 of the Conditions*?

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3.	If not, will amendments be made or do you wish to apply for exemption? (If you wish to apply for exemption in terms of condition 3, state grounds for exemption).

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4.	Do you deposit fund moneys, whether contributions paid or benefits payable, in a trust account or other bank account opened in your name? Please furnish details.

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SECTION III (Only to be completed by administrator requiring exemption)

Please indicate exemptions required from the Conditions*, if any.

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Please furnish reasons for requiring exemption.

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* The Conditions promulgated in the Government Gazette containing the Registrar's prerequisites for approval as an administrator.

[Schedule M inserted by regulation 5 of Notice No. R. 1838 of 1995]

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

Regulations

Schedules

Schedule M : Application for Approval as an Administrator in terms of Section 138 of the Pension Funds Act, 1956

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