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Compensation for Occupational Injuries and Diseases Act, 1993 (Act No. 130 of 1993)

Chapter III : Compensation Fund and Reserve Fund

19. Reserve fund


(1) There is hereby established a fund to be known as the reserve fund, consisting of cash or investments or both.


(2) The amount of the reserve fund shall be determined by the Director-General.


(3) The objects of the reserve fund are—
(a) to provide for unforeseen demands on the compensation fund;
(b) to stabilize the tariffs of assessment.


(4) Payments out of the reserve fund shall take place on the authorisation of the Director-General.


(5) The reserve fund established in terms of section 66 of the Workmen's Compensation Act shall, as from the commencement of this Act, cease to exist, and all amounts credited to the said reserve fund immediately before such commencement shall as from such commencement vest in the reserve fund established by subsection (1).