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

Chapter VI : General and Miscellaneous

31. Carrying on business of unregistered pension fund organization and use of designation "pension fund"

 

(1) No person shall—
(a) [Section 31(1)(a) repealed by section 44(a) of Act No. 45 of 2013]
(b) carry on the business of a pension fund, unless that fund has been provisionally or finally registered under this Act;

[Section 31(1)(b) amended by section 44(b) of Act No. 45 of 2013]

(c) carry on the business of a pension fund for such period and subject to such conditions as may be prescribed after the date on which the person who applied for registration of the fund is advised by the registrar that the application for registration has been rejected; or

[Section 31(1)(c) amended by section 44(b) of Act No. 45 of 2013]

(d) apply to that person's business a name which includes the words "pension fund" or any other name which is calculated to indicate that that person carries on the business of a pension fund, unless such business is provisionally or finally registered as a pension fund under this Act.

[Section 31(1)(d) amended by section 44(b) of Act No. 45 of 2013]

 

(2) If at the commencement of this Act any person applied to his business any such name as is referred to in paragraph (d) of subsection (1) and he, after the commencement of this subsection, changes such name and produces any deed or document bearing such name and registered in any deeds registry, to the officer in charge of that registry, and satisfies the said officer that such name was changed by virtue of the provisions of the said paragraph (d), the said officer shall, without any charge, substitute the new name for the previous name on such deed or document and in all the relevant registers in the said registry.