Pension And Provident Funds - General (Ss 26-36)

Link to law: http://www.elaws.gov.bw/desplaylrpage1.php?id=209

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PART VI
General (ss 26-36)

[Ch2703s26]26. Right to obtain copies of or to inspect documents

(1) A licensed fund shall deliver to any member or

pensioner on demand by that member or pensioner a copy of-

(a) the

rules of the fund;

(b) the

last audited income and expenditure accounts and balance sheet of the fund.

(2) A member or pensioner of a licensed fund shall

be entitled at all reasonable times to inspect, without charge, at the

registered office of the fund and to make extracts from-

(a) the

rules of the fund;

(b) the

last audited income and expenditure accounts and balance sheet of the fund;

(c) the

last report, if any, by any actuary in terms of section 16;

(d) any

scheme being carried out by the fund in accordance with the provisions of

section 19.

[Ch2703s27]27. ...... 2 of 2007, s. 107

[Ch2703s28]28. Effect of certificate of Registrar on documents

Any document that purports to have been certified

by the Registrar to be a document lodged with him in terms of this Act or to be

a copy of such a document shall be prima facie presumed to be such a

document or copy thereof and every copy which purports to be so certified shall

be admissible in evidence as if it were the original document.

[Ch2703s29]29. Service of process

(1) Service of process in any legal proceedings

against a licensed fund may be effected at the principal office of the fund in

Botswana.

(2) If a licensed fund has no principal office in

Botswana or it has ceased to exist, process in any legal proceedings against

the licensed fund may be served at the office of the Registrar, and service

upon the Registrar, in such case, shall be deemed to be service upon the fund.

[Ch2703s30]30. ...... 2 of 2007, s. 107

[Ch2703s31]31. Improper use of certain designations

No person shall, without the approval of the

Registrar in writing, apply to any business carried on by him in Botswana a

name which includes the words "pension fund", "provident

fund" or "retirement annuity fund" or a name which indicates

that he carries on the business of a fund unless the fund concerned is

licensed.

[Ch2703s32]32. Offences relating to false statements or entries

(1) No person shall, in any statement, return,

report, certificate, balance sheet or other document required by or for the

purposes of this Act, wilfully make a statement which is false in any material

particular knowing such statement to be false or not believing it to be true.

(2) No person shall, with intent to defraud or

deceive-

(a) destroy,

mutilate, alter or falsify any books, papers or securities or other record

maintained for or by any electronic retrieval system belonging to a licensed

fund; or

(b) make or

be a party to the making of any false or fraudulent entry in any register, book

of account or other document or other record maintained for or by any

electronic retrieval system belonging to a licensed fund.

[Ch2703s33]33. Offences and penalties

(1) Any person who-

(a) contravenes

the provisions of section 8, 10, 12, 13, 14 or 26; or

(b) fails

to make a return or to transmit or deposit any scheme, report, account,

statement or other document when required to do so in terms of this Act; or

(c) fails

or refuses to furnish information, to produce documents or accounts, to lodge

securities or to render other assistance to the Registrar when called upon to

do so in terms of this Act; or

(d) fails

to comply with any terms and conditions fixed or direction given by the

Registrar in terms of this Act; or

(e) 2 of 2007, s. 107 contravenes the provisions of section 15,

16, 17 or 31; or

(f) contravenes

the provisions of section 32,

shall be guilty of an offence.

(2) Any person who is guilty of an offence

referred to in-

(a) subsection

(1)(a) shall be liable to a fine not exceeding P1,000;

(b) subsection

(1)(b) shall be liable to a fine not exceeding P2,000;

(c) subsection

(1)(c) shall be liable to a fine not exceeding P3,000;

(d) subsection

(1)(d) or (e) shall be liable to a fine not exceeding P5,000;

(e) subsection

(1)(f) shall be liable to a fine not exceeding P10,000 or to

imprisonment for a term not exceeding two years, or to both.

(3) If any person is convicted of an offence in

terms of subsection (1) and thereafter continues to commit the offence, he

shall be liable to a fine not exceeding P200 for each day that he continues to

commit the offence or to imprisonment for a term not exceeding two years.

[Ch2703s34]34. Power to make regulations

(1) The Minister may make regulations prescribing

anything which under this Act is to be prescribed or which, in his opinion, is

necessary or convenient to be prescribed for the better carrying out of the

objects and purposes of this Act or to give force or effect to its provisions

or for its better administration

(2) Regulations in terms of subsection (1) may

provide for-

(a) the

form of any document referred to in this Act and the manner in which it shall

be prepared, executed, registered, transmitted or delivered;

(b) the

fees to be charged in respect of any act, matter or thing to be done by or in

relation to the Registrar;

(c) the

matters to be included in the document submitted with an application for the

licensing of a fund and the conditions and procedures for such licensing;

(d) the

appointment of an actuary or auditor and the matters to be included in any

report by an actuary or auditor;

(e) the

submission to the Registrar of financial statements, reports, statistics,

accounts and other documents;

(f) the

fees for the inspection of any documents;

(g) the

deduction by an employer from the emoluments payable to his employee of

contributions to be paid to a licensed fund;

(h) the

maximum benefits that may be payable by a licensed fund or funds;

(i) the

prohibition or control of the cession, pledging or hypothecation of benefits

payable by a licensed fund and the protection of such benefits on assignment or

from attachment or execution under a judgment or order of a court;

(j) the

withholding of any benefits payable by a licensed fund where the member concerned-

(i) has

borrowed and not fully repaid money from the fund or from his employer and has

pledged his rights to benefits from the fund as security therefor; or

(ii) has

been discharged because of dishonesty which has resulted in his employer suffering

loss,

and the person to whom such benefits or

portion thereof may be paid.

[Ch2703s35]35. ...... 2 of 2007, s. 107

[Ch2703s36]36. Saving in respect of existing funds

Notwithstanding anything to the contrary contained

in this Act, where an authority by which a fund was established or which is

responsible for the administration of a fund is required in terms of section

8(4) to amend the rules of the fund in so far as they affect the rights of

members or former members, that authority may, in making such amendment, limit

its application to persons who become members of the fund after the date on

which the amendment was required and the Registrar shall not regard the rules

as so amended as being inconsistent with the provisions of this Act by reason

only of the fact that the amendment so made does not apply to persons who were

members of the fund before the said date.