Compensation for Occupational Injuries and Diseases Act, 1993 (Act No. 130 of 1993)Chapter III : Compensation Fund and Reserve Fund15. Compensation fund |
| (1) | There is hereby established a fund to be known as the compensation fund. |
| (2) | The compensation fund shall consist of— |
| (a) | any moneys vested in the compensation fund in terms of subsection (3); |
| (b) | the assessments paid by employers in terms of this Act; |
| (c) | any amounts paid by employers to the Director-General in terms of this Act; |
| (d) | any penalties and fines imposed in terms of this Act other than by a court of law; |
| (e) | any interest on investments of the compensation fund and the reserve fund; |
| (f) | any amounts transferred from the reserve fund; |
| (g) | the payments made to the Director-General in terms of section 88; |
| (h) | any other amounts to which the compensation fund may become entitled. |
| (3) |
| (a) | The accident fund established by section 64 of the Workmen's Compensation Act shall, as from the commencement of this Act, cease to exist, and all amounts credited to the accident fund immediately before such commencement, shall as from such commencement vest in the compensation fund. |
| (b) | All liabilities and rights, existing as well as accruing, of the accident fund shall devolve upon the compensation fund as from the commencement of this Act. |