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Bollore Transport and Logistics South Africa Pension Fund v Financial Sector Conduct Authority (A22/2024) [2024] ZAFST 61 (1 November 2024)

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FINANCIAL SERVICES TRIBUNAL

 

A22/2024

 

In the matter between:

 

BOLLORE TRANSPORT AND LOGISTICS

SOUTH AFRICA PENSION FUND

 

Applicant

And

 

 

FINANCIAL SECTOR CONDUCT AUTHORITY

Respondent

 

CONSENT ORDER

 

BY AGREEMENT between the parties, it is agreed that:

 

1.            The Respondent’s decision taken on 12 August 2024, to reject the application for extension of the 60-day period required for the payment of transfer amounts in terms of section 14(2)(b) of the Pension Funds Act, 1956 (“the PFA”) in respect of the transfer of business from the Bollore Transport and Logistics South Africa Pension Fund to the Sygnia Umbrella Retirement Fund, is set aside and referred back to the Respondent for further consideration in terms of section 234(1)(a) of the FSR Act.

 

2.            There is no order as to costs.

 

 

LTC HARMS

Financial Services Tribunal 1 November 2024