Intellectual Property Rights from Publicly Financed Research and
R 385
Post and Telecommunication-related Matters Act, 1958 (Act No. 44 of 1958)Chapter IB : Staff and Pension Matters10C. Insolvency of pensioner |
| (1) | If the estate of any person in receipt of a pension from a pension fund referred to in section 9 is sequestrated or surrendered or assigned for the benefit of his creditors, payment of the pension shall forthwith be discontinued, and shall thereafter in the discretion of the pension fund concerned in whole or in part be paid to or for the benefit of all or any of the following persons, namely, the pensioner, his wife or minor child or, failing a wife or minor child, to the mother of an illegitimate child or any child, whether legitimate, adopted or illegitimate, or to any other relative dependent upon the pensioner: Provided that if the payment is made to the pensioner, it shall be for his own personal use and, notwithstanding anything to the contrary contained in any law relating to insolvency, such payment shall not in any way be attached or appropriated by the trustee of his insolvent estate or by his creditors. |
| (2) | If payment of a pension has been discontinued under this section, the pension shall revive on the rehabilitation of the pensioner or on the sequestration of his estate being set aside or the claims of his creditors being satisfied, and he shall receive a pension at the same rate and subject to the same conditions as before the sequestration, surrender or assignment, together with any arrears that may be due. |
[Section 10C inserted by section 7 of Act No. 85 of 1991]
