Section 25

establish, maintain, administer or continue to maintain and administer and subsequently wind-up a provident fund for the benefit of its officers and servants or any section of such officers and servants and make regulations in respect thereof;

enter into arrangements or agreements with any local land development board or corporation for the establishment, maintenance and administration and subsequent winding up of a joint provident fund for the benefit of such officers and servants and of the officers and servants or a section of the officers and servants of such board or corporation and subject to any such arrangement or agreement, make regulations in respect thereof;

establish, maintain and administer a pension scheme for payments of pensions, gratuities or other allowances on superannuation, resignation, retirement or discharge of officers and servants of the Authority or any section of such officers and servants and for the establishment and maintenance of a pension fund and make regulations in respect thereof; and

establish and administer a superannuation scheme for the granting of such gratuities and allowances on death, superannuation, resignation, retirement or discharge of

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subordinate officers and servants of the Authority as may be deemed expedient and for the granting of such gratuities and allowances as may be deemed expedient to any one or more of the surviving dependants of any person who having been employed as a subordinate officer or servant of the Authority dies after having been superannuated or discharged or after having resigned or retired may make regulations in respect thereof.

No gratuity, allowance or other payment payable out of any such provident fund or under any such pension or superannuation scheme nor any right or interest acquired by any person there under shall be assignable or transferable or liable to be attached, sequestrated or levied upon for or in respect of any debt or claim whatsoever other than a debt due to the Authority.

Any moneys paid out of any such provident fund on the death of any person shall be deemed to be impressed with a trust in favour of the persons entitled thereto under the will or intestacy of such deceased person, but shall not be deemed to form part of his estate or be subject to his debts.

Any person may by will or by a memorandum under his hand appoint a trustee or trustees of the moneys payable on his death out of any such provident fund and may make provision for the appointment of a new trustee or new trustees of such moneys and for the investment thereof.

If at the time of the death of any person or at any time afterwards there is no trustee of such moneys or it is expedient to appoint a new trustee or new trustees, then and in any such case a trustee or trustees or a new trustee or new trustees may be appointed by the High Court or a Judge thereof.

The receipt of a trustee or trustees duly appointed, or in default of any such appointment and of written notice thereof to the Authority the receipt of the legal personal representative of a deceased person, shall be a discharge to the Authority for any moneys payable on his or her death out any such provident fund.

Any officer or servant of the Authority who is a contributor to any such provident fund shall, if he is dismissed the service of the Authority for fraud or dishonesty or misconduct, which

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involves pecuniary loss to the Authority, or retires from or resigns his office with intent to escape discharge or dismissal in consequence of such fraud, dishonesty or misconduct, forfeit, at the absolute discretion of the Authority, all or any part of his contribution to the fund and the interest accrued thereon and the accumulations thereof as the Authority in its discretion thinks fit.

Any employee of the Authority who would otherwise be entitled to any benefit under any such pension scheme shall, if he is dismissed from the service of the Authority for fraud or dishonesty or misconduct, which involves pecuniary loss to the

Authority, or retires from or resigns his office with intent to escape discharge or dismissal in consequence of such fraud, dishonesty or misconduct, forfeit and lose the whole or such part of such benefit as the Authority may in its absolute discretion direct.

With the approval of the Minister the Authority may, in its discretion, in consideration of long or special services of any officer or servant of the Authority whose case does not come within the scope and effect of the Authority’s provident fund, pension scheme or superannuation scheme regulations, pay to such officer or servant, on his retirement or discharge, or to any surviving dependants of such officer or servant, upon his death, a gratuity or compassionate allowance on such terms and conditions as the Authority may determine.

Any regulations made under paragraph (1)(b) may, notwithstanding anything contained in the Interpretation Acts 1948

and 1967 [Act 388], be made to operate retrospectively to any date whether before or after the coming into force of this Act.

Contracts and Delegation