Government Employees Pension Law, 1996Schedule 1 : Rules of the Government Employees Pension Fund4. Management of the fund4.8 Termination of office |
| 4.8.1 | A trustee or his or her substitute ceases to be a trustee or a substitute, as the case may be, when: |
| (a) | his or her term of office expires; |
| (b) | he or she dies; |
| (c) | he or she resigns from his or her office as trustee or substitute by way of a notice in writing addressed to the chairperson of the Board; |
| (d) | he or she becomes physically unfit and, due to such unfitness, he or she is not, in the opinion of the Board in consultation with his or her principal, capable of properly performing his or her duties as trustee or substitute; |
| (e) | his or her estate is sequestrated or renounced on behalf of his or her creditors; |
| (f) | he or she is convicted in the Republic or elsewhere of theft, fraud, forgery or the uttering of a forged document, or perjury, or he or she is sentenced to imprisonment without the option of a fine; |
| (g) | he or she is discharged by a court of law from any position of trust on account of misconduct; |
| (h) | he or she becomes incompetent to be a director of a company in terms of the Companies Act 71 of 2008; |
| (i) | he or she contravenes rule 4.9.2(f) or neglects to conform thereto, should the Board in consultation with his or her principal so decide; |
| (j) | he or she is replaced by another person by his or her principal, which replacement must be conveyed in writing to the chairperson of the Board; |
| (k) | the trustees resolve that he or she is to be removed from office because of a breach of his or her fiduciary duty towards the Fund or its members and pensioners and/or because of a breach of the Code of Conduct, in compliance with the disciplinary policy of the Board; |
| (l) | he or she is declared to be mentally unfit by a competent court, or is so declared incapable to handle his/her own affairs, or if he/she is detained in terms of any act as a patient in an institution, or if he/she is detained as a state patient in terms of the Mental Health Act of 2000; |
| (m) | the trustees resolve that he or she is to be removed from office because he/she is ineligible as set out in 4.4.1. |
| 4.8.2 | If another person is appointed in the place of a trustee or substitute who ceases to be a trustee or substitute in terms of this rule, such other person, acts in the place of such trustee or substitute for the duration of the term of office of the person in whose place he or she was appointed. |