Occupational Diseases in Mines and Works Act, 1973 (Act No. 78 of 1973)Chapter V : Commissioner, Advisory Committee and Compensation Fund77A. Actuarial valuation and services |
| (1) | The compensation fund shall within three years from the fixed date be valued by an actuary appointed by the Minister, and thereafter the said fund shall be valued by such an actuary at such intervals, not exceeding three years, as the Minister may determine. |
| (2) | Notwithstanding the provisions of section 60, the cost of any actuarial valuation in terms of subsection (1) and, subject to the directions of the Minister, any actuarial services to give effect to any provision of this Act shall be paid from the compensation fund, the respective accounts mentioned in section 67 to be debited with such amounts of such costs as may be determined by the Minister after consultation with the advisory committee. |
| (3) | For the purposes of this section “actuary” means any Fellow of any institute, faculty, society or chapter of actuaries approved by the Minister of Finance. |
[Section 77A inserted by section 22 of the Occupational Diseases in Mines and Works Amendment Act, No. 208 of 1993]