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Pension And Provident Funds: Subsidiary Legislation

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[Ch2703s12]12.     Registered office


            (1) Every registered 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 registration of the fund.

            (2) Any change in the address of the registered office of a registered 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 registered 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 registered 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 registration,

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 registered 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.