Pension Funds Act, 1956 (Act No. 24 of 1956)Chapter VI : General and Miscellaneous32. Registrar may require unregistered funds to furnish information |
| (1) | The registrar may by notice in writing require any person whom he has reason to suspect is carrying on he business of a pension fund which is not registered under this Act, to transmit to him, within period stated in such notice, a copy of the rules, if any, under which such person is operating, together with a copy of the last annual accounts recorded by such person, and such further information as the registrar may require. |
| (2) | If such person fails to comply, to the satisfaction of the registrar, with the requirements of the registrar, the registrar may investigate the affairs or any part of the affairs of the said person, or appoint an inspector to hold such an investigation and to report the result of his investigation to the registrar, and the provisions of section 25 shall with the necessary changes apply to every such investigation, and the registrar shall be entitled to recover from the person concerned all expenses necessarily incurred in connection with the investigation, unless such investigation shows that such person is not carrying on the business of a pension fund. |
[Section 32(2) amended by section 45 of Act No. 45 of 2013]
| (3) | If it appears from enquiries made by the registrar in terms of subsection (1) or of any investigation made in terms of subsection (2), that the person concerned is carrying on the business of a pension fund, the registrar shall register the fund provisionally whereafter the provisions of this Act shall apply to the said fund. |