Section 4B: Specified Workers Gratuity Fund
consolidated text (as at 2016, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
4B. Specified Workers Gratuity Fund
(1) Notwithstanding section 4, an employer may at any time elect, in
such form and in such manner as the Board may approve, to make, in
addition to the contribution under section 4, such amount of contribution as
he may, on the advice of the actuary, determine, towards the payment of
retirement and death gratuities to a specified worker.
(2) Where an employer has made an election under subsection (1), the
additional contribution shall be paid into his own account in the Specified
Workers Gratuity Fund.
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Sugar Industry Pension Fund Act
(3) The Board may invest all sums which may be available from the
Specified Workers Gratuity Fund with such bank, financial institution, fund or
in such securities as the Board may approve.
(4) Any income derived from the investments pursuant to subsection (3)
shall accrue to the Specified Workers Gratuity Fund and shall be paid into
that Fund.
[S. 4B inserted by s. 28 (c) of Act 20 of 2002 w.e.f. 10 August 2002.]
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