Zambian Mines Local Pension Fund (Dissolution) Act

The Laws of Zambia
Copyright Ministry of Legal Affairs, Government of the Republic of Zambia
REPUBLIC OF ZAMBIA
THE ZAMBIAN MINES LOCAL PENSION FUND
(DISSOLUTION) ACT
CHAPTER 220 OF THE LAWS OF ZAMBIA
CHAPTER 220 THE ZAMBIAN MINES LOCAL PENSION FUND (DISSOLUTION)
ACT
THE ZAMBIAN MINES LOCAL PENSION FUND
(DISSOLUTION) ACT
ARRANGEMENT OF SECTIONS
Section
1. Short title
2. Interpretation
3. Trust Fund to be wound up and dissolved
4. Provisions relating to winding up and dissolution of the Trust Fund
5. Regulations and amendment and construction of the Trust Deed and the Rules
6. No claims permissible against the Trust Fund after date of dissolution
CHAPTER 220
ZAMBIAN MINES LOCAL PENSION FUND
(DISSOLUTION)
50 of 1966

Rules
6. No claims permissible against the Trust Fund after date of dissolution
CHAPTER 220
ZAMBIAN MINES LOCAL PENSION FUND
(DISSOLUTION)
50 of 1966

The Laws of Zambia
Copyright Ministry of Legal Affairs, Government of the Republic of Zambia
An Act to provide for the winding up and dissolution of the Zambian Mines Local
Pension Fund; the rights of subscribers to that Fund on the winding up and
dissolution thereof; and for matters connected therewith. [7th October, 1966]
1. This Act may be cited as the Zambian Mines Local Pension Fund (Dissolution)
Act. Short title
2. (1) In this section, "the Indenture" means the Supplemental Trust Deed
reconstituting the former Northern Rhodesian Mines Pension Fund dated the 30th June,
1965, to which the parties are-
Interpretation
1.

ntal Trust Deed
reconstituting the former Northern Rhodesian Mines Pension Fund dated the 30th June,
1965, to which the parties are-
Interpretation
1.

Bancroft Mines Limited, Nchanga Consolidated Copper Mines Limited,
Zambian Anglo American Limited (formerly Rhodesian Anglo American
Limited), Rhokana Corporation Limited, Mushili Limited, The Zambia
Broken Hill Development Company Limited (formerly The Rhodesia Broken
Hill Development Company Limited), Zambian Anglo Mine Services Limited
(formerly Rhoanglo Mine Services Limited), Copperbelt Power Company
Limited (formerly Rhodesia Congo Border Power Corporation Limited) and
Mining Timbers Limited (formerly Rhodesia Congo Border Timber Company
Limited) of the first part. 2. Roan Selection Trust Limited (formerly Rhodesian Selection Trust Limited),
Mufulira Copper Mines Limited, Chibuluma Mines Limited, Ndola Copper
Refineries Limited, RST Administrative Services Limited (formerly R.S.T. Administrative Services Limited), RST Technical Services Limited (formerly
R.S.T. Secretariat Limited) and RST Mine Services Limited (formerly R.S.T. Mine Services Limited) of the second part. 3.

al Services Limited (formerly
R.S.T. Secretariat Limited) and RST Mine Services Limited (formerly R.S.T. Mine Services Limited) of the second part. 3.

Copper Industry Service Bureau Limited (formerly The Incorporated
Northern Rhodesia Chamber of Mines Limited) and Mines Air Services
Limited (formerly Northern Rhodesia Aviation Services Limited) of the third
part. 4. Zambian Mines Local Pension Fund Limited (formerly Northern Rhodesian
Mines Pension Fund Limited) of the fourth part. 5. Zaminex Limited whose registered office is situate at Kitwe in Zambia of the
fifth part. (2) In this Act-
(a) the expressions "the companies", "the Trust Deed" and "the Trust Fund"
have the same meanings as defined in and amended by the Indenture;

his Act-
(a) the expressions "the companies", "the Trust Deed" and "the Trust Fund"
have the same meanings as defined in and amended by the Indenture;

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Copyright Ministry of Legal Affairs, Government of the Republic of Zambia
(b) the expressions "the Rules" and "the Trustees" have the same meanings as
defined in the Trust Deed;
(c) all references to other expressions which are used in the Rules or the Trust
Deed shall, unless the context otherwise requires, be read and construed
as having the same respective meanings as in the Rules or the Trust Deed. 3. (1) On the commencement of this Act the Zambian Mines Local Pension Fund
(otherwise referred to as the Trust Fund) shall be wound up and accordingly-
Trust Fund to be
wound up and
dissolved
(a) the commencement of this Act is an event upon the happening of which the
Trust Fund shall be dissolved; and
(b) the Trustees shall proceed to wind up and dissolve the Trust Fund in
accordance with the provisions of this Act and the Trust Deed. (2) The Trust Fund shall stand dissolved as from such date not being a date before
the expiry of the period of four years after the commencement of this Act as the Minister
may, in agreement with the Trustees, determine and notice of the date so determined
shall be published in the Gazette.

ent of this Act as the Minister
may, in agreement with the Trustees, determine and notice of the date so determined
shall be published in the Gazette.

(3) As from the commencement of this Act contributions and payments to the Trust
Fund as provided for in the Trust Deed and the Rules shall cease and shall not be
accepted by the Trustees, except any contributions or payments that are, on the
commencement of this Act, lawfully due and have not been paid to the Trustees.

by the Trustees, except any contributions or payments that are, on the
commencement of this Act, lawfully due and have not been paid to the Trustees.

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4.

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4.

In the winding up and dissolution of the Trust Fund the following provisions shall
apply:
(a) Any member or former member or pensioner shall be entitled, if he so
elects within twelve weeks after the commencement of this Act, to be repaid
by the Trustees in the instalments hereinafter provided for an amount equal
to all contributions paid by him and all payments other than life assurance
premiums made by the companies in respect of him together with such
other amounts as may be allocated by the Trustees to that member or
former member or pensioner and the Trustees shall repay accordingly after
they have made provision to enable them to comply with the requirements
of paragraph (a) of clause 12 of the Trust Deed (which relates to the
payment of Trust expenses);
(b) Payments of the amount mentioned in paragraph (a) and of any other
benefits under the Trust Deed or the Rules other than those payable by way
of pension or secured annuity shall, except to the extent that regulations
made under this Act may otherwise provide, be due and payable in eight
instalments at intervals of approximately six months on the dates
prescribed over the period of four years commencing on the date of
payment of the first instalment which shall be not later than the 15th
November, 1966;
(c) Subject to the provisions of paragraphs (a) and (b) the Trustees shall apply
the Trust Fund in accordance with the provisions of clause 12 of the Trust
Deed.

to the provisions of paragraphs (a) and (b) the Trustees shall apply
the Trust Fund in accordance with the provisions of clause 12 of the Trust
Deed.

Provisions relating to
winding up and
dissolution of the Trust
Fund
5. (1) The Minister may by regulations made after consultation with the Trustees
provide for such matters as he thinks fit for the purposes of this Act and in particular may
make such amendments to the Trust Deed and the Rules (including the powers of
amendment contained therein) as may appear to him to be necessary or expedient for
bringing the Trust Deed and the Rules into conformity with the provisions of this Act or
otherwise and until such amendments as aforesaid are effected the Trust Deed and the
Rules shall be construed with such modifications, adaptations, qualifications and
exceptions as may be necessary to bring them into conformity with this Act. Regulations and
amendment and
construction of the
Trust Deed and the
Rules
(2) The Trust Deed and the Rules shall have effect as amended by any regulations
made under this Act. 6.

construction of the
Trust Deed and the
Rules
(2) The Trust Deed and the Rules shall have effect as amended by any regulations
made under this Act. 6.

Every member, former member, pensioner and dependant shall accept the
benefit allotted to him by the Trustees in the winding up and dissolution of the Trust Fund
in full discharge of all claims in respect of the Trust Fund and shall as from the date upon
which the Trust Fund stands dissolved have no further claim whatsoever in respect of any
rights to any benefit under the Trust Deed or the Rules or otherwise. No claims permissible
against the Trust Fund
after date of
dissolution