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

Chapter VI : General and Miscellaneous

40A. Delegation and assignment

 

(1) The Minister may, in writing, delegate a power or assign a duty to any official in the National Treasury.

 

(2) The Minister must regularly review and, if necessary, amend or withdraw a delegation made under subsection (1).

 

(3) A delegation or assignment to an official contemplated in subsection (1)—
(a) is subject to such limitations and conditions as the Minister may impose; and
(b) does not divest the Minister of the responsibility concerning the exercise of the delegated power or the performance of the assigned duty.

 

(4) The Minister may confirm, vary or revoke any decision taken by an official as a result of a delegation in terms of this section subject to any rights that may have vested as a consequence of the decision.

 

 


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