| (1) | All money paid into any of the benefit funds referred to in clause 24, must be deposited in a special bank account to be operated for and in the name of that benefit fund. |
| (2) | Any money in a benefit fund that is not required for immediate use may be invested by the Council from time to time in terms of section 53(5) of the Act. |
| (3) | Income earned on invested money accrues to the Council. |
| (4) | Any contribution paid to a benefit fund, which is not claimed or otherwise legally disposed of within five years of receipt of that contribution will be forfeited to the reserve funds of the benefit fund concerned. |
[Clause 26(4) substituted by clause 2 of Notice No. R. 48, GG 37263, dated 31 January 2014]
| (5) | In respect of each benefit fund, the Council must appoint a registered auditor to— |
| (a) | audit the accounts of the relevant benefit fund at least once a year; and |
| (b) | a statement showing all money received and expenditure incurred under all headings for the financial year to the end of February together with a balance sheet showing the assets and liabilities of the fund as at that date. |
| (6) | The audited statement and balance sheet of each benefit fund, countersigned by the Chairperson of the Council, together with any reports made thereon by the auditor— |
| (a) | must lie for inspection at the offices of the Council; and |
| (b) | a certified copy thereof must be transmitted to 'the Registrar of Labour Relations within three months of the close of the period covered thereby. |
| (7) | In the event of the dissolution of the Council, or the Council ceasing to function, during the currency of this Agreement, the Registrar of Labour Relations may appoint a committee, or committees, consisting of an equal number of representatives of employers and employees in the Industry for the purpose of administering the benefit funds. |
| (8) | Any vacancies occurring on the committee or committees referred to in subclause (7), may be filled by the Registrar of Labour Relations from among representatives of employers· or employees in the Industry, as the case may be. Where the committee is unable or unwilling to discharge its duties, the Registrar may appoint one or more trustees to administer the relevant benefit fund. The committee, or trustee or trustees so appointed must have the powers vested in the Council for the purposes of administering that fund. |
| (9) | If there is no Council in existence upon the expiration of this Agreement, the benefit funds must either— |
| (a) | continue to be administered by the committee or trustee or trustees functioning at the time and any amount remaining to the credit of a particular fund must be distributed in terms of section 59(5) of the Act as if it formed part of the general funds of the Council; |
| (b) | be wound-up in terms of clause 27. |
| (10) | In the event of the Council incorrectly making payment to an employee or an employer from a benefit fund as a result of the employer's failure to comply with any of the provisions of this Agreement, or as a result of an error by any person, the Council may invoke the provisions of the Exemptions and Dispute Resolution Collective Agreement to recover the amount incorrectly paid. |
| (11) | If the incorrect payment referred to in subclause (10) was occasioned by a fault or error on the part of the employer, the employer will be liable for all costs incurred by the Council in recovering the amount. |
