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

Chapter VI : General and Miscellaneous

36. Regulations

 

(1) The Minister may make regulations, not inconsistent with the provisions of this Act—
(a) in regard to all matters which by this Act are required or permitted to be prescribed by regulation;
(b) [Section 36(1)(b) deleted by section 25 of Act No. 11 of 2007]
(bA) prescribing matters in addition to those contemplated in any other provision of this Act in respect of which fees be payable, the fee payable in respect of each such matter, and, in relation to such fees as well as fees payable under any such other provision of this Act, the persons by whom the fees shall be payable, the manner of payment thereof and, where it is deemed necessary, the payment of interest in respect of overdue fees;
(bB) limiting the amount which and the extent to which a invest in particular assets or in particular kinds or categories of assets, prescribing the basis on which the limit shall be determined and defining the kinds or categories of assets to which the limit applies;
(bC) authorising the registrar to grant unconditional or conditional exemption, whether unlimited or limited in duration, from provisions of the regulations contemplated in paragraph (bB);
(bD) prescribing additional conditions under which a fund may grant a loan to a member or furnish a guarantee in favour of a person other than the fund in respect of a loan granted or to be granted by such other person for the purposes contemplated in section 19(5);
(c) generally, as to all matters which he considers it necessary or expedient to prescribe in order that the purposes of this Act may be achieved.

 

(2) Different regulations may in terms of subsection (1) be made in respect of different funds.

 

(3) Fees which are in terms of or by virtue of a provision of this Act payable, and interest so payable in respect of overdue fees, shall be a debt due to the Financial Services Board established by section 2 of the Financial Services Board Act, 1990 (Act No. 97 of 1990), and may be recovered by the registrar by action in any competent court.