Section 3: Assignment of salary
consolidated text (as at 2011). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
3. Assignment of salary
(1) Notwithstanding any other enactment, any transfer, assignment or
delegation by a member of a portion of his salary to meet the payment of a
loan made, or share issued, to him by the Company in accordance with the
by-laws of the Company shall be good and valid.
(2) (a) Subject to paragraph (c), all sums due by a member to the Company, under any such transfer, assignment or delegation, shall be deducted
by the employer from the salary or pension of the member, in accordance
with a monthly list of sums so due which shall be forwarded to him by the
Chairperson of the Board of Directors of the Company.
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Statutory Bodies Mutual Aid Association Act
(b) The sums so transferred, assigned or delegated shall be deducted
in accordance with the by-laws of the Company.
(c) No deduction shall exceed one third of the member’s monthly
salary or pension.