Labour Relations Act, 1995 (Act No. 66 of 1995)NoticesMotor Industry Bargaining Council (MIBCO)Motor Industry Sick, Accident and Maternity Pay Fund Agreement, 2017Clause 4 - Continuation and Objects of the Fund |
| (1) | The Fund established in terms of this Agreement, whether published under any Government Notice is not, and is known and referred to as the "Motor Industry Sick, Accident and Maternity Pay Fund" (hereinafter referred to as the"Fund"). |
| (2) | the Fund shall consist of— |
| (a) | the moneys as at the date of coming into operation of this Agreement, standing to the credit of the Motor Industry Sick and Accident Pay; |
| (b) | contributions prescribed in this Agreement; |
| (c) | penalty interest on late payments of contributions, levied and collected by the MSSC |
| (d) | interest on investments; and |
| (e) | any other moneys to which the Fund may become entitled. |
| (3) | The objects of the Fund shall be, in accordance with the rules of the Fund as determined from time to time, to— |
| (a) | assist members of the Fund who suffer losses of wages or salary through absenteeism resulting from incapacity owing to accident or sickness. |
| (b) | assist female members who suffer losses of wages through absenteeism resulting from the pregnancy of such members. |
| (c) | provide any other benefits to assist members of the Fund as determined from time to time including but not limited to death and funeral benefits for members and dependants defined in terms of the Rules of the Fund. |