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Section 438 of The Companies Act No. 17 of 2015: Employer’s charges and other rights of recovery

    

(1) If the relevant shares are held on trust for the purposes of a pension scheme, the following are to be disregarded—
(a) a charge or lien on, or set-off against, any benefit or other right or interest under the scheme for the purpose of enabling the employer or former employer of a member of the scheme to obtain the discharge of a monetary obligation due to the employer or former employer from the member;
(b) a right to receive from the trustee of the scheme, or as trustee of the scheme to retain, an amount that can be recovered or retained under a prescribed enactment relating to pensions or the provision of retirement benefits, or otherwise, as reimbursement or partial reimbursement for contributions equivalent premium paid in connection with the enactment.
(2) If the shares are held in trust for the purposes of an employees' Share scheme, a charge or lien on, or set-off against, a benefit or other right or interest under the scheme is to be disregarded if it is designed to enable the employer or former employer of a member of the scheme to obtain the discharge of a monetary obligation due to the employee or former employee from the member.

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Disclaimer: This document is not to be taken as legal advise.

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