Amendment status not verified — confirm the current text below against the official source.
Vesting and application of fund.--(1) THe fund shall vest in and be held and applied by the Board as a Trustee subject to the provisions and for the 4 purposes, of this Act. The moneys therein shall be utilised by the Board to defray the cost- of carrying out activities which may be specified by the State Government from time to time to promote the Welfare of labour and of their dependents. (2) Without prejudice to the generality of sub- section Cl) the moneysi\in the fund may be utilised by the Board to defrayexpenditure onthe following va,L, ao ban- 20euctasi:azu.roca Oleg= no ae•teir.t; .01 ozi veg don aeob.-leyolorfle nfl n (11--hmT,u4A 961 - w!‘ktna, community and social education centres • aanii•lo cht;I:nalw;lonnb urndau In lnrorr? l'tfo; v,IL:1^8 sdi including reading rooms andlibraries, sdi Jo Inmome- On au ,asexoloms psi.; mola osellpsa holInsa ..tabds rxckiud.hxinoc7 1 ssyolcims the a m awolcims community necessities; sill 'atricinli to AfamnIpo'l 21 se ei:11.4 &di radJiw ° sdri• J.k '(Sc' 03 'snA. nidi ?rn n iv ir*jn ,-,-(x/ (c) educational facilities for children, women, ed/, no 0e.viSa oa ORuS0 ykz! :ts00:S0-,: rum00 a adults 091410scr t. b nd o.L194 a'±tiiiw inuome siii \Lag oI 7.evolgms moal evbb vJaidi n;;17; etsi sd Jon Llhda doldw- ,nisasdJ (d) games and sports; PLlua to 001Vt4e. 10 eist sdi (e) excuisions, tours and holiday, homes; EACE-1 ,11i 24 (c.; . , bs.:Linsas bodisq- 11:1 iLAJJ‘4 :trutm” 1;nmA ym, (fr entertainments and other. forms of recreation; y4g ;111Jom:J nomana i lInts ention ni —1Rw7rnih, h-fr.rd • home industries and subsidiary occupations for women and unemployed persons; lizii (s) dne;) 703. Jouoms t.0 L'a*v.) 't90 • corporate activities of a.socral nature; rth.Crai ati.L 7iertri flinon eisqmo edi el nniblonns fl be sved hIrri,da :;? (iy cost of administering the ACt including allowances of the AMtierViii%lie Board and the salaries and allowances of the officers rftles o,s .7CLOXri 3"10, or " /6 (CO and staff appointed for the purposes of the emIJ sei 20/10 7r,011,171.1J hanom sJelquon Act- and 21L,4t1p5s?!fm10:1 esuillionnod . “oms :fi .'h(> (j) such other objectsJhas woued ld f the opinion of the Board improve the standard of living bhul °HT (1,—.AhL24 lp kt:J/1.:15T)Clq,7A A4Tn pnhirr24% and ,ameliorate the social conditions of era ers.eig nfll y0 02,;:fliqi, 04.911 ea 006 its ./asv flezie h: . 94, Ioa Dr•la our ai ,....:xec.voaq rtsJau-iT sa iEzri 319meril evnadm eldT 'Int\ kq.ei 1.0 neat-Tat shall bot be utilised • ,Provided that the fund ilised in ylcost). 01 CabOti &i McI bsaLliJv financipg,any, activity which- the evployer,ie required 1/4.C1 091.30,-Ce ea mlinunp.no 2E4131v/ins 4co under any-lawffor the time being in force to carry out: .v enj .93enpIg 03 9m13 03 9mxi moat Jpemnasvo0 .aInshrisdnh xi4AI o tris au.ndsi Provided further that unpaid accumulati 9t Ons and fines shall be paid to the Board ancLbe.expended by it under -UtJE IAD zizl7f e000 iTt7 04 00fluffSla—nrogii ' 0 this Act. notwithstanding anything contained in the yu Oti,xIX31) 90 viin ZnUI 6d3 ,Lt ay:1110m 9r13 (1) nolJose 69 f)Vrttie\- - rote Waraers- -7A-c €ri, r 193.5 ' (Noir:4 ref -1936) ,/ any 4::•t her 7Earist-hetre4marha1n9. .11 :L btonibiEllsra ad oi . .be.c[inesIg Ezd yam 135 • The Board may, with the approval of the State a ca.^10 •••• •• . e r Government; make a .en a' 'grant° out of a- the F- fund tb any etiolOyner7rraicy--:1-o-aa1la1i64ey oi ranY 'other) body.. inid gby. aaartiiii-477fcrifthe7-welfarelof tlabour 7E aSay36 .65411:)291C1 • If any-,qµetion arises whether any particular e • '&penàitixrTfisO45nat -debttable:Teal the 4Fund; the , ehallibe-cfef er-rid the- ;State 7Goirernment x and the rale.c.i3i.o4nr7.41:31nehtt& Sta te !Govei-nm-ent': shall. be Los ofiT .75011 Ca: :1112:11.1 wiz Er::laat:i I zvcon Jo poi:zoom zaril cart) z busod Cf ij( 5-)•ttr) eha.114bill aW foi1 thelsoat& to ) c on t inue any activtii-Yr ShiñEedfrorn the4i1obout Welfare fund of any es tabli shment ,he.,said.,fund is only_trana f erred ,to, the -Board :tinder ,suh-Section c(3),, of Section' 3. , , au4,‘ 1.11501.1 911.1 riSsII9JIt 5 'r;1 UI jk l4ilit.1710.1E4-SnC n n ' 12 .ower of, Board to borrow.-The 'Board may from time to U . with the pi-evious sanction r of the State Goverimea_iandv.Subject3 to ..the provisions:of this Act 'and itO amic-ICOndit ionsv:as ,. may be z spec i f ied,in _this behalf borrow ail/ sum required for the purposes-of this A• ct., 4 )1:4 aoxiivi:1:14x to J.za-40°44 xr faro 11,1 el 0 • .4 tr c-- r ie n ie.O „.L [13.“ Investinent of Fund.-Where tkfurx crony V• • -.ed.. . e •. •••••• are.' iat • • ' • • • , portion there-cif canr r. be 'appliecd it-anc‘aailVditel'far 1-f).11 11 the' `aid eCte &f tharkcti,b th''Board inajinvest - • .741ii e• 401 1 j ••• ann •-•'‘ 'f•-• ' -- the same in purchasing the savings 1-Fertificatesstor deposit it in Post Office Saving Bank ot . in,any account Ewith ScheduledtBsnk viorn,investtits inicrovernment 2securities ;, The Board may with.the approval ,o f ,the State - 4.- EGov.ernment,cf also, invest itncin_j any \other m_odeaof 0invests)! nt.;.:!JI:)tz,;••;or, fitua or) zootdua ,s--v.fatuozodi 9112 7.O itsnttzte3 oTti oi ,ruzi,Juicanz aril ni boiliooga . erITTIC;) 575119W ....1._,Sulpstituted by Act No. 11 of 1996. 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