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South Africa
KwaZulu-Natal Joint Municipal Provident Fund Act, 2017
Act 8 of 2017
- Published in KwaZulu-Natal Provincial Gazette 1923 on 7 February 2018
- Assented to on 7 December 2017
- Commenced on 7 February 2018
- [This is the version of this document from 7 February 2018 and includes any amendments published up to 29 November 2024.]
1. Definitions
In this Act, unless the context indicates otherwise-“actuary” means a person who is-(a)a fellow of an institute, faculty, society or chapter of actuaries registered as such in accordance with the applicable legislation; and(b)appointed by the-(i)Registrar; and(ii)Board of Trustees,as a valuator as contemplated in section 9A of the Pension Funds Act, 1956 (Act No. 24 of 1956);“auditor” means a public accountant and auditor who is-(a)registered as such in accordance with the Public Accountants' and Auditors' Act, 1991 (Act No. 80 of 1991); and(b)appointed by the Board of Trustees;“benefit” means any benefit granted or other amount due, in accordance with the regulations to a member, dependant or other person;“Board of Trustees” means the Board of Trustees contemplated in section 7A of the Pension Funds Act, 1956 (Act No. 24 of 1956), and established as prescribed;“committee of management” means the committee of management elected in accordance with the provisions of the Rules;“employee" means an employee as contemplated in sections 8(2) and (3);“Financial Services Board” means the Financial Services Board established in accordance with section 2 of the Financial Services Board Act, 1990 (Act No. 97 of 1990);“Fund" means the KwaZulu-Natal Joint Municipal Provident Fund;“general committee” means the general committee elected in accordance with the provisions of the rules;“KwaZulu-Natal Joint Municipal Provident Fund” means the KwaZulu-Natal Joint Municipal Provident Fund established by section 2 of the KwaZulu-Natal Joint Municipal Provident Fund Act, 1995 (Act No. 4 of 1995);“member” unless the context determines otherwise, means a natural person who-(a)at any stage prior to the commencement date of this Act contributed to the Fund, and from the commencement date of this Act continues to contribute to the Fund; or(b)on any date subsequent to the commencement date of this Act starts to contribute to the Fund;“municipality”-(a)includes a metropolitan municipality, a district municipality or a local municipality as contemplated in section 155(6) of the Constitution of the Republic of South Africa, 1996;(b)means a municipality established in terms of the Local Government: Municipal Structures Act, 1998 (Act No. 117 of 1998);(c)when contemplated as an entity or a corporate body, means a municipality as described in section 2 of the Local Government: Municipal Systems Act, 2000 (Act No. 32 of 2000); and(d)when contemplated as a geographic area, means a municipal area determined as contemplated in the Local Government: Municipal Demarcation Act, 1998 (Act No. 27 of 1998);“notice” means a notice issued in terms of a regulation;“Pension Funds Act” means the Pension Funds Act, 1956 (Act No. 24 of 1956);“prescribed" means prescribed by the responsible Member of the Executive Council by regulation made or notice issued in accordance with section 7;“principles of good governance” means the principles as set out in the King Code and Report on Governance in South Africa, 2009, and any amendments thereto, or revision thereof;“promulgation” means promulgation in the Provincial Gazette;“Province” means the Province of KwaZulu-Natal;“Provincial Gazette” means the Provincial Gazette of the Province of KwaZulu-Natal;“regulation" means a regulation made under this Act, and includes any Schedule to such regulations;“Regulations governing the KwaZulu-Natal Joint Municipal Provident Fund" means the Regulations governing the KwaZulu-Natal Joint Municipal Provident Fund published in Provincial Notice No. 135 of 1996 on 4 April 1996;“responsible Member of the Executive Council" means the Member of the Executive Council responsible for local government;“Rules" for purposes of the Pension Funds Act, means-(a)the Rules for the Management and Administration of the Natal Joint Municipal Pension Fund (Superannuation), the Natal Joint Municipal Pension Fund (Retirement), and the KwaZulu-Natal Joint Municipal Provident Fund, issued in accordance with the regulations made under the-(i)Local Government Superannuation Ordinance, 1973 (Ordinance No. 24 of 1973);(ii)Natal Joint Municipal Pension Fund (Retirement) Ordinance, 1974 (Ordinance No. 27 of 1974); and(iii)KwaZulu-Natal Joint Municipal Provident Fund Act, 1995 (Act No. 4 of 1995); and(b)any further Schedules made in accordance with section 7, after the date of commencement of this Act; and“this Act” includes the regulations made and notices issued in terms of such regulations.2. Objects of Act
The objects of this Act are to replace the current Fund framework with a framework that is solely regulated by, aligned to, and compliant with the-3. Application of Act
4. Continuation and operation of Fund
5. Continuation of membership of Fund
Subject to the provisions of this Act or any other law, a person who, immediately prior to the date of commencement of this Act, was a member of the Fund, continues to be a member of the Fund.6. Continuation of association with Fund
Every municipality that, immediately prior to the commencement of this Act, was associated with the Fund, continues to be associated with the Fund.7. Powers of responsible Member of Executive Council
8. Transitional arrangements
9. Repeal of law and savings
10. Short title
This Act is called the KwaZulu-Natal Joint Municipal Provident Fund Act, 2017.History of this document
07 February 2018 this version
07 December 2017
Assented to
Cited documents 5
Act 5
1. | Local Government: Municipal Systems Act, 2000 | 4566 citations |
2. | Local Government: Municipal Structures Act, 1998 | 4463 citations |
3. | Pension Funds Act, 1956 | 1574 citations |
4. | Constitution of the Republic of South Africa, 1996 | 597 citations |
5. | Financial Services Board Act, 1990 | 209 citations |
Documents citing this one 3
Provincial Notice 3
Subsidiary legislation
Title
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Date
|
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Regulations Relating to the Kwazulu-Natal Joint Municipal Provident Fund, 2019
Finance and Money
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Provincial Notice 25 of 2019 | 21 February 2019 |
Finance and Money
|