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

Chapter II : Registration and Incorporation

4. Registration of pension

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1)Every pension fund shall apply to the registrar for registration under this Act.

 

2)An application under subsection (1) shall be accompanied by the particulars and the fee prescribed.

 

3)The registrar shall, if the fund has complied with such requirements as he may have prescribed and he is satisfied that the registration of the fund is desirable in the public interest, register the fund provisionally and forward to the applicant a certificate of provisional registration.

 

4)If after considering any such application the registrar is satisfied that the complies with the conditions prescribed, he shall register such fund and send to the applicant a certificate of registration as well as a copy of the rules of the fund bearing an endorsement of the date of registration.

 

5)If after considering any such application, the registrar is not satisfied as regards all the matters in respect of which he is in terms of subsection (4) required to be satisfied, he shall in writing indicate to the applicant the requirements to be complied with in order that he may be so satisfied.

 

6)Subject to the provisions of subsection (7) the provisional registration of a fund under subsection (3) shall be valid for a period of five years, but may in the discretion of the registrar and subject to such conditions and limitations as he may consider desirable, be renewed from time to time for periods not exceeding twelve months at a time and not exceeding five years in the aggregate.

 

7)Whenever a fund which is provisionally registered under this section has complied with all the requirements specified in subsection the registrar shall register the fund and transmit to it a certificate of registration as well as a copy of its rules with the date of registration duly endorsed thereon and thereupon the fund shall cease to be provisionally registered.

 

8)No fund shall be registered or provisionally registered under this Act except as provided in this section.