Labour Relations Act, 1995 (Act No. 66 of 1995)NoticesBargaining Council for the Furniture Manufacturing IndustryKwaZulu NatalExtension to Non-Parties of the Main Collective AgreementPart 116. Expiry of Collective Agreement |
| (1) | In the event that this Agreement expires by: |
| (a) | cessation or any other cause, the Holiday Fund shall continue to be administered by the Council until it is either: |
| (i) | liquidated; or |
| (ii) | transferred to any other fund constituted for a purpose similar to that for which the original Fund was established; or |
| (iii) | is continued in a subsequent collective agreement negotiable within a period of 12 months from the date of expiry of this Agreement. |
| (2) | Liquidation: In the case of liquidation of the Fund, any monies remaining to the credit of the Fund after payment of all claims, which includes administration and liquidation expenses, shall be paid into the general fund of the Council. |
| (3) | Dissolution of Council: In the event of dissolution or of ceasing to function during any period in which this Agreement is binding, the Holiday Fund shall continue to be administered by: |
| (a) | a Committee established consisting of the Chairperson and Vice-Chairperson of the Council, plus; |
| (b) | two employer representatives and two Trade Union representatives. |
| (4) | Any vacancy occurring on the Committee may be filled by the Council from: |
| (a) | employers or employees from the Industry so as to ensure equality of the representatives on the Committee. |
| (5) | In the event that the Committee is unable to discharge its duties for whatever reason, which renders the Administration of the Holiday Fund impractical, the Council may appoint; |
| (a) | a person who shall forthwith co-opt two more persons, one being; |
| (b) | a member of the Fund or a paid official from the Trade Union and the other person being; |
| (c) | a member of the employers' organisation or a paid official thereof. |
| (6) | The persons duly appointed shall be the Trustees in whom all the powers rights and duties of the Committee shall vest. |
| (7) | The Fund shall be liquidated upon expiry of the Agreement by the Committee or Trustees, as the case may be. |
| (8) | Trustees shall be paid from the Fund such reasonable fees as agreed upon between themselves and the Registrar of Labour Relations. |
| (9) | Upon liquidation of the Fund in terms of this Clause, the Committee, Liquidator or Trustees, as the case may be, shall— |
| (a) | proceed to invest all such monies on call; |
| (b) | pay all creditors, administration and liquidators expenses; and |
| (c) | determine the net value of the Fund and allocate the said monies to the employees' accounts as determined by this Clause; |
| (d) | after final allocation in terms of sub-clause (9)(c) hereof, pay the amounts standing to the credit of each employees' account to such employee as if he had left the Industry. |
| (10) | Despite anything to the contrary contained within this Clause, should any benefit due and payable not be claimed within six months from the date upon which it became due and payable, the benefit shall be forfeited to the general fund of the Council : Provided that; |
| (a) | the Council shall in the event of a claim being lodged within a period of 3 years, from the date upon which such benefit became due, within its absolute discretion make payment to: |
| (i) | beneficiaries of deceased employees out of the monies that have been forfeited in terms of this Clause. |