Municipalities and Public Authorities Provident Fund Act

MUNICIPALITIES AND PUBLIC AUTHORITIES PROVIDENT FUND ACT. ARRANGEMENT OF SECTIONS. Section 1. Interpretation. 2. Minister to approve provident fund schemes. 3. Amendments to the rules or regulations. 4. Amendments to the draft regulations. 5. Amounts in hand not assignable or liable to attachment. 6. Funds to be kept in separate account. 7. Persons prohibited from contributing to two schemes. 8. Schemes under the Provident Fund (Local Governments Act) not affected. 9. Provision in respect of the Kampala City Council. Schedule Draft regulations. CHAPTER 285 MUNICIPALITIES AND PUBLIC AUTHORITIES PROVIDENT FUND ACT. Commencement : 6 December, 1951. An Act to make provision for the establishment of provident funds by public authorities. 1. Interpretation.

FUND ACT. Commencement : 6 December, 1951. An Act to make provision for the establishment of provident funds by public authorities. 1. Interpretation.

In this Act, unless the context otherwise requires— ( a ) "approved scheme" means a provident fund scheme the rules or regulations of which have been approved by the Minister under section 2; ( b ) "bonus" means a sum credited to an individual contributor's account otherwise than by the contributor or by way of interest; ( c ) "contributor" means a person who is making contributions into a fund of an approved scheme; ( d ) "draft regulations" means the regulations set out in the Schedule to this Act; ( e ) "fund" means the sum total of all contributions, bonuses and interest contributed or paid under the provisions of any approved scheme; ( f ) "public authority" means any municipal council established under the Local Governments Act, and any other authority or association of persons recognised by the Minister by statutory instrument as a public authority for the purposes of this Act. 2. Minister to approve provident fund schemes.

recognised by the Minister by statutory instrument as a public authority for the purposes of this Act. 2. Minister to approve provident fund schemes.

(1) Notwithstanding the Local Governments Act, no public authority shall establish or maintain a provident fund scheme for the benefit of its employees or its members unless the proposed rules or regulations making provision for the establishment of the scheme have been approved by the Minister. (2) The Minister shall give his or her approval under subsection (1) only if— ( a ) the proposed rules or regulations of the scheme are substantially in accordance with the draft regulations; and ( b ) he or she considers the rates of contributions and bonus are in accordance with the best interests of the authority and its employees or members. (3) The decision of the Minister as to whether or not the proposed rules or regulations are or are not substantially in accordance with the draft regulations shall be final. 3. Amendments to the rules or regulations. No public authority or board of management of any approved scheme shall amend or alter the rules or regulations in respect of any such scheme without prior approval of the Minister. 4. Amendments to the draft regulations. (1) The Minister may from time to time by statutory instrument amend the draft regulations.

l of the Minister. 4. Amendments to the draft regulations. (1) The Minister may from time to time by statutory instrument amend the draft regulations.

(2) An amendment shall not affect any of the rules or regulations of any approved scheme in operation at the date of the amendment unless the Minister so orders, in which event due regard shall be had to the existing rights of depositors. 5. Amounts in hand not assignable or liable to attachment. (1) No contribution in an approved scheme, bonus or interest on the contribution or bonus shall be assignable or transferable or liable to be attached, sequestered or levied upon for or in respect of any debt or claim other than as provided for in subsection (2). (2) Any sum or sums due by a contributor to a public authority may be deducted from the amount standing to his or her credit in any fund administered by the authority on the closure of his or her account. 6. Funds to be kept in separate account. (1) Every public authority administering an approved scheme shall keep the fund in respect of the scheme in a separate account and shall pay into the account all contributions so soon as they are paid and all bonus payments and interest when due. (2) The monies paid into a fund may be invested in such security or securities as is permitted for the investment of money held on trust.

st when due. (2) The monies paid into a fund may be invested in such security or securities as is permitted for the investment of money held on trust.

(3) No fund shall be liable to be attached, sequestered or levied upon but shall be held in trust for the contributors; and in the event of the winding up or dissolution of any public authority that has established a fund under this Act, the funds shall be divided among the contributors in such manner as the High Court shall direct on the motion of the Administrator General. (4) Nothing in this section shall be deemed to affect any rule or regulation making provision for payment of the expenses of administe This section of the article is only available for our subscribers. Please click here to subscribe to a subscription plan to view this part of the article. Home | About Us |--> Terms & Conditions | Privacy Statement | Publishing Services | Contact Us Sitemap --> --> Copyright 2019. Blackhall Publishing. All Rights Reserved. Design and Developed By : Indiafin Technologies Ltd .