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$(Microsoft PowerPoint - Latest Tax Developments \226 Lauren ...$

Registrar refused to approve the rule amendment! “I reject the rule amendment because, in my opinion, it is inconsistent with the PFA (and, if not with the PFA, with the spirit of the law!)” Picture by Robbie Tshabalala
Fund’s argument • Regulatory history – Nothing in PFA, regulations or circulars prohibits rule amendment • Rule amendment is not inconsistent with – The Pension Funds Act – The 1973 Companies Act – The Administration of Estates Act
Page 1 and 2: Before Mr Justice John MacRobert IN
Page 3: Application for rule amendment •
Page 7 and 8: Section 15B of the PFA (‘the surp
Page 9 and 10: Problems with regulation 35(4) •
Page 11 and 12: Circular PF 126 issued in November
Page 13 and 14: Establishment of ‘special purpose
Page 15 and 16: Ongoing fund should be allowed to m
Page 17 and 18: Rule amendment is not inconsistent
Page 19: Registrar’s argument

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