Labour Relations Act, 1995 (Act No. 66 of 1995)

Notices

Motor Industry Bargaining Council (MIBCO)

Motor Industry Sick, Accident and Maternity Pay Fund Agreement, 2017

Clause 13 - Expiration of Agreement and Dissolution of the Council
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(1)In the event of the expiration of this Agreement, and unless within a period of 12 months after such expiration, either a new agreement is negotiated in terms of which the Fund is continued, or the Fund is transferred by the RMI to any other fund constituted for a similar purpose to that for which the Fund was originally established, the Fund shall be liquidated.

 

(2)In the event of the dissolution of the Council or in the event of its ceasing to function in terms of section 34(2) of the Act, during any period in which this Agreement is binding, the MIBCO Governing Board shall continue to administer the Fund and the members of MIBCO Governing Board at the date on which the Council ceases to function or is dissolved shall be deemed to be members thereof or such purposes:

 

Provided, however, that any vacancies occurring on such MIBCO Governing Board may be filled by the Parties from employers or employees of the Motor Industry to ensure an equality of employer and employee representatives and alternates in the membership of the MIBCO Governing Board.  In the event of the MIBCO Governing Board being unable or unwilling to discharge its duties or a deadlock arising thereon which renders the administration of the Fund impracticable or undesirable the Parties shall appoint a trustee or trustees to carry out the duties of the MIBCO Governing Board and who shall possess all the powers of the MIBCO Governing Board for the purpose.

 

If upon the expiration of this Agreement there is no Council in existence, the Fund shall be liquidated in the manner set forth in clause 14 of this Agreement, and if upon such expiration and the affairs of the Council have already been wound up and its assets distributed, the balance of the Fund shall be transferred into a Fund administered by the RMI for the purposes of providing benefits to its members.