CHAPTER 51
PROVIDENT FUND (GOVERNMENT EMPLOYEES) ACT

[SUBSIDIARY LEGISLATION]

INDEX TO SUBSIDIARY LEGISLATION

    NOTICES

        The Provident Fund (Rate of Interest on Deposits and Bonuses) Notice

    REGULATIONS

        The Provident Fund (Government Employees) Regulations

NOTICES

THE PROVIDENT FUND (RATE OF INTEREST ON DEPOSITS AND BONUSES) NOTICE

(Section 8(1))

G.N. No. 52 of 1989

    It is hereby notified that in pursuance of the provisions of subsection (1) of section 8 of the Provident Fund (Government Employees) Act, the President has, with the advice of the Board of Management, fixed in respect of the period 1st July, 1987 to 30th July, 1988, the rates of interest set out below:

REGULATIONS

THE PROVIDENT FUND (GOVERNMENT EMPLOYEES) REGULATIONS

(Section 23)

G.Ns. Nos.
388 of 1942
453 of 1942
66 of 1944
66 of 1945

1.    Citation

    These Regulations may be cited as the Provident Fund (Government Employees) Regulations.

2.    Nominations

    (1) A nomination for the purposes of section 21 of the Act shall be made in Form 1 of the Schedule hereto and submitted forthwith to the Permanent Secretary to the Treasury.

    (2) A depositor may at any time cancel or revise any such nomination and such cancellation or revision shall be made in Form 2 or Form 3 of the Schedule hereto as the case may be and submitted forthwith to the Permanent Secretary to the Treasury.

3.    Voluntary deposits

    (1) Any depositor who immediately prior to the commencement of the Provident Fund (Government Employees) Act * was entitled to make a deposit to the Fund established by the African Civil Service Provident Fund Ordinance * may–

    (a)    make fixed monthly voluntary deposit of not less than five shillings or any multiple thereof and the Permanent Secretary to the Treasury shall deduct such deposits from the salary of the depositor;

    (b)    withdraw any part of such deposit upon application to make such withdrawal to Permanent Secretary to the Treasury:

    Provided that save in the event of the final closing of a deposit account such withdrawal shall be in sums of five shillings or multiples thereof.

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    (2) Subject to the approval of the Board the total voluntary deposits of such a depositor in any one year shall not exceed, after deducting withdrawals made during the year, the sum of five hundred shillings and the balance of voluntary deposits standing to the credit of such a depositor on any date shall not exceed four thousand shillings.

    (3) Where the Board is satisfied that the voluntary deposit account of a depositor is being used by the depositor for purposes other than that of a savings account, the Permanent Secretary to the Treasury may, after giving due notice to the depositor, close such account.

4.    Interest

    (1) Interest shall be credited on voluntary deposits made under the preceding regulation at a rate to be fixed annually by the President after having obtained the advice of the Board and shall begin to accrue in respect of each sum so deposited on the first day of the month next following the day on which the deposit is made and such interest shall be calculated to 31st December in each year and shall then be added to and become part of the principal.

    (2) No interest shall be credited on any sum withdrawn in respect of the period between the last day of the month preceding the date of withdrawal and the first day of the month next following the date of repayment.

5.    Gratuities

    (1) The Board may at its discretion and with the approval of the President grant to a depositor who immediately prior to the commencement of the Provident Fund (Government Employees) Act * was entitled to make a deposit to the fund established by the African Civil Service Provident Fund Ordinance *–

    (a)    on his retirement, or, in the case of his death to his widow, widower or children or other members of his family dependent upon him at the time of his death, for good and faithful continuous service of not less than fifteen years; or

    (b)    on his removal in consequence of the abolition of his office or for the purpose of facilitating improvements in the organisation of Government by which greater economy can be effected, after not less than seven years' good and faithful continuous service,

a gratuity of a sum equal to half a month's salary at the time of such retirement, death or removal, as the case may be, in respect of each year's service in the Government.

    (2) The provisions of subregulation (1) of this regulation shall not apply where the depositor within six months from the commencement of these regulations notifies the Accountant-General that he elects to renounce on behalf of himself and his dependants the right to gratuity conferred by the said subregulation.

6.    Where no lawful claim made

    If, within a period of three years after the date of the death of a depositor or of his leaving the service, no lawful claim has been made for the amount standing to his credit in the Fund, such amount shall be paid out of the Fund to the Government and credited to revenue.

7.    Contributions to Reserve Fund

    (1) From the balance of income carried in any one year on the invested capital of the Fund, after paying interest on deposits the Board may contribute from the Fund such sum as it may in its discretion determine to a Reserve Fund.

    (2) Such sum paid into the Reserve Fund may be used wholly or partly to meet losses on sales and depreciation of investments, stabilisation of interest rates and losses on working.

SCHEDULE
FORMS

FORM 1
NOMINATION

THE PROVIDENT FUND (GOVERNMENT EMPLOYEES) REGULATIONS

(Regulation 2(1))

FORM 2
CANCELLATION OF NOMINATION

THE PROVIDENT FUND (GOVERNMENT EMPLOYEES) REGULATIONS

(Regulation 2(2))

FORM 3
REVISION OF NOMINATION

THE PROVIDENT FUND (GOVERNMENT EMPLOYEES) REGULATIONS

(Regulation 2(2))

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