Government Employees Pension Law, 1996Annexure 1 : Government Employees Pension Law, 199614. Discontinuance of previous funds: transfer of assets and liabilities |
| (1) |
| (a) | A previous fund shall be discontinued with effect from a date determined in respect of that fund by the Minister. |
| (b) | Different dates may be so determined in respect of the different previous funds. |
| (2) | All assets, including any right to claim any amount, and all liabilities, including any obligation to pay any pension, related benefit or any other amount in terms of any law, of a previous fund in respect of which a date is determined under subsection (1), shall with effect from that date pass to and vest in the Fund. |
| (3) | The Minister shall as soon as possible after the determination of a date under subsection (1) in respect of a previous fund, take the necessary steps to indicate on the relevant title deeds or other documents pertaining to the assets which passed to the Fund in terms of subsection (2), the change of ownership or the vesting of any other right. |
| (4) | Any person who has in his possession any financial instrument issued in respect of the investment of money of the Fund, or any document in the form of any stock, debenture, security, equity, insurance policy representing the investment, loan or insurance of any money or interest of the Fund, shall for the purposes of subsection (2) submit such instrument or document to the Minister. |
| (5) | For the purposes of subsection (1)(a) "previous fund" means— |
| (a) | the Government Employees Pension Fund of the Transkei, established in terms of the Government Employees Pensions Act, 1978 (Act No. 15 of 1978), of the former Transkei; |
| (b) | the Transkeian Government Service Pension Fund, referred to in section 2 of the Transkeian Government Service Pension Fund Act, 1970 (Act No. 4 of 1970); |
| (c) | the Ciskeian Civil Servants Pension Fund, referred to in the Government Service Pensions Act, 1989 (Act No. 4 of 1989), of the former Ciskei, as amended by the Government Service Pensions Amendment Decree, 1993, of the former Ciskei; |
| (d) | the Government Pension Fund of Bophuthatswana, established by section 2(1) of the Bophuthatswana Government Service Pensions Act, 1977 (Act No. 14 of 1977), of the former Bophuthatswana; |
| (e) | the Government Pension Fund of Venda, established by section 2(1) of the Venda Government Service Pensions Act, 1979 (Act No. 4 of 1979), of the former Venda; |
| (f) | the Government Superannuation Fund of Venda, established by section 2(1) of the Venda Government Service Pensions Act, 1979, of the former Venda; |
| (g) | the Authorities' Service Superannuation Fund, established by section 2(2) of the Black Authorities' Service Pensions Act, 1971 (Act No. 6 of 1971); |
| (h) | the Authorities' Service Pension Fund, established by section 2(1) of the Black Authorities' Service Pensions Act, 1971 (Act No. 6 of 1971). |