Section 19: Grant of loans
consolidated text (as at 2002). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
19. Grant of loans
The Board may grant loans from the Fund to workers for such purposes
and on such terms and conditions as it may determine.
19A Repayment of loans
(1) A worker to whom a loan has been granted from the Fund may repay
the loan, or any balance due on a loan, or any part of it, before it becomes
due, without payment of any indemnity or other charge.
(2) Where a worker has been granted a loan from the Fund, his employer
may, with the worker’s consent, deduct from the emoluments of the worker
a sum not exceeding one-third of his emoluments and remit that sum to the
Fund.
(3) Where a worker is paid on a weekly basis, the employer shall be responsible to remit the monthly repayment of the loan for each worker to the
Fund.
[S. 19A inserted by s. 10 of Act 37 of 2002 w.e.f. 1 January 2003.]