Sheriffs Act, 1986 (Act No. 90 of 1986)

Chapter III : Position of Trust of Sheriffs

Fidelity Fund for Sheriffs

26. Establishment and control of Fidelity Fund for Sheriffs
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(1) There is hereby established a fund to be known as the Fidelity Fund for Sheriffs, and into which shall be paid—
(a)interest paid to the Fund in terms of section 22(4);
(aA)moneys received by the Fund in terms of section 22(5)(a);

[Section 26(1)(aA) inserted by section 20 of Act No. 8 of 2017 - effective 31 January 2020 as per Proclamation No. R. 5, GG42987, dated 31 January 2020]

(b) the prescribed contribution referred to in section 30(1)(c)(ii) or 31(2);

[Section 26(1)(b) substituted by section 8 of Act No. 74 of 1998]

(c)interest derived from the investment of moneys in the Fund;
(d)moneys recovered on behalf of the Fund by virtue of the provisions of section 39;
(e)moneys mentioned in section 41(2);
(f)moneys which may accrue to the Board from any other source.

 

(2) The Fund shall be controlled and managed by the Board, which shall utilize the moneys in the Fund in accordance with this Chapter.

 

(3)        

(a)Moneys forming part of the Fund shall, until spent or invested in accordance with this Chapter, be paid into and kept in an account opened with a banking institution or building society.
(b) Such account shall be called the Fidelity Fund Account for Sheriffs.