Pension And Provident Funds - Management And Administration (Ss 12-14)

Link to law: http://www.elaws.gov.bw/desplaylrpage1.php?id=206

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PART III
Management and Administration (ss 12-14)

[Ch2703s12]12. Registered office

(1) Every licensed fund shall have a registered

office in Botswana, the address of which shall be notified by the fund in

writing to the Registrar-

(a) in the

case of an existing fund, within one month after the appointed day;

(b) in the

case of any other fund, within one month after the licensing of the fund.

(2) Any change in the address of the registered

office of a licensed fund shall be notified by the fund in writing to the

Registrar within one month after the date of such change of address.

[Ch2703s13]13. Principal officer

(1) Every licensed fund shall have a principal

officer appointed in terms of its rules who shall be ordinarily resident in

Botswana:

Provided that an external fund may instead appoint

a person who is a responsible official of a participating employer and who is

ordinarily resident in Botswana to be its representative.

(2) A licensed fund shall notify the Registrar in

writing of the name and address of its principal officer or a representative

appointed in terms of subsection (1)-

(a) in the

case of an existing fund, within one month after the appointed day;

(b) in the

case of any other fund, within one month after its licensing,

and shall notify the Registrar in writing of any change in the name or

address of the principal officer or the representative within one month after

such change.

(3) Where anything is required by or in terms of

this Act to be done-

(a) by a

fund, it shall be the duty of the principal officer or representative appointed

in terms of subsection (1) to ensure that the thing so required to be done is

in fact done;

(b) by the

principal officer, it may be done by the representative appointed in terms of

subsection (1).

[Ch2703s14]14. Appointment of auditor and actuary

Every licensed fund shall appoint in terms of its

rules-

(a) an

auditor who shall not be an officer of the fund; and

(b) an

actuary:

Provided that it shall not be obligatory for a

fund which has been exempted in terms of section 16(3) from compliance with the

provisions of subsection (1) of that section to appoint an actuary.