(1)
| (a) | The Council shall keep a record of each Employee in respect of whom payments are made in terms of the Cape Furniture Holiday and Bonus Fund and of the amount paid to the Cape Furniture Holiday and Bonus Fund in respect of the Employee. |
| (b) | The Council shall from time to time invest on fixed deposit or on call with a bank or registered building society any of the money belonging to the Cape Furniture Holiday and Bonus Fund surplus to its requirements, and any interest accruing from such investment shall accrue to the general funds of the Council in consideration of the Council's administration of the Fund |
| (c) | Moneys due to Employees who cannot be traced and who have not claimed payment within a period of two years from the date on which the moneys become payable shall accrue to the funds of the Council. |
| (d) | A public accountant who shall be appointed by the Council and whose remuneration shall be decided by the Council, shall audit the accounts of the Fund at least once annually and not later than 31 March in each year and prepare a statement showing:— |
| (i) | all moneys received:— |
| (a) | in terms of sub- clause (42)(a) hereof; and |
| (b) | from any other source; and |
| (ii) | expenditure incurred under all headings during the 12 months ended 31 October preceding, together with a balance sheet showing the assets and liabilities of the Fund as at that date. True copies of the audited statement and balance sheet, countersigned by the Chairman of the Council, and of the auditor's report thereon shall thereafter lie for inspection at the office of the Council. Certified copies of the statement, balance sheet and auditor's report shall as soon as possible, but not later than four months after the close of the period covered thereby, be transmitted by the Council to the Director -General of Labour. |
| (j) | In the event of the expiry of the Agreement or any extension or renewal thereof and a subsequent agreement providing for the continuation of the Fund not being negotiated within a period of 12 months from the date of such expiry or the Fund not being transferred by the Council within such period to any other fund constituted for the same purpose as that for which the original Fund was created, the Fund shall be liquidated. The Fund shall, during the said period of 12 months or until such time as it is transferred to any other fund referred above or to continued by a subsequent agreement, be administered by the Council. |
| (k) | In the event of the dissolution of the Council or in the event of its ceasing to function during any period in which this Agreement is binding, In terms of section 59 of the Act, the Registrar of the Labour Court may appoint a liquidator from Employers and Employees in the Industry on the basis of equal representation on both sides and the Fund shall continue to be administered by such committee. |
Any vacancy occurring on the committee may be filled by the Registrar from Employers or Employees, as the case may be, so as to ensure an equality of Employer and Employee representatives on the committee.
In the event of such committee being unable or unwilling to discharge its duties or a deadlock arising thereon which renders the administration of the Fund impracticable or undesirable in the opinion of the Registrar, he may appoint a trustee or trustees to carry out the duties of the committee and such trustee or trustees shall possess all the powers of the committee for such purpose. If there is no Council in existence, the Fund shall, upon the expiry of the Agreement, be liquidated by the committee functioning in terms of this sub -clause, or the trustee or trustees, as the case may be, in the manner set forth in paragraph (I) and if upon the expiry of the Agreement the affairs of the Council have already been wound up and its assets distributed, the balance of this Fund shall be distributed as provided for in the Council's constitution as if it formed part of the general funds of the Council.
| (I) | Upon liquidation of the Fund in terms of paragraph (j) the moneys remaining to the credit of the Fund after the payment of all claims against the Fund, including administration of liquidation expenses, shall be paid into the general funds of the Council. |
| (m) | The Cape Furniture Holiday and Bonus Fund shall be utilised for the purpose of distribution to Employees of holiday pay. |
(2)
| (b) | The following holiday and bonus fund provisions apply:— |
| (i) | Every employer shall pay in respect of every employee a holiday and bonus fund amount;— |
| (a) | calculated on the employee's wages for the actual normal time worked in any pay week and on the hours employee would ordinarily have worked on a paid public holiday; and |
| (b) | trade union representative leave days; and |
| (c) | on the first five days of paid sick leave on condition a medical certificate is provided and on condition that such sick leave days do not fall on a Monday or a Friday or on a day before or after a public holiday; and |
| (d) | family responsibility leave for the first two days only that are related to the death of an employee's spouse, life partner, parent, adopted parent, grand parent, child, legally adopted child, or sibling and upon presentation of the relevant death certificate by the employee to their employer; and |
| (e) | time not worked by an employee due to being placed on short time by their employer shall be deemed as hours worked and are thus to be included in the employee' weekly working hours as if the employee had worked such time. |
| (3) | The Holiday and Bonus Fund contribution rates shall be payable to the Council and calculated as follows:— |
| (i) | Fifteen percent (15 %) of an employee's actual normal time weekly wage if the employee has lost twenty minutes or less of the Company's ordinary/normal weekly working hours. |
| (ii) | Eleven percent (11 %) of an employee's actual normal time weekly wage if the employee has lost between twenty one and sixty minutes of the Company's ordinary /normal weekly working hours. |
| (iii) | Seven point Five percent (7.5 %) of an employee's actual normal time weekly wage if the employee has lost more than sixty minutes of the Company's ordinary /normal weekly working hours. |
| (iv) | No Holiday and Bonus Fund contributions are payable for the first 15 hours of overtime worked per week, hours worked on a Sunday, any allowances and on wages payable for study leave. |
| (v) | In the week of commencement of annual leave and the week of return to work after a period of annual leave, the days forming part of the working week shall accumulate holiday and bonus at 15% subject to the penalties referred to in Clauses 42 (ii) (iii) and (iv). |
| (vi) | On application an exemption from the above provisions may be granted should a Company have a more favourable attendance bonus scheme. |
