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Section 42 of The Labour Relations Act 2007: Treasurer to render accounts

    

(1) In this section, “official” means the treasurer of a trade union, employers’ organisation or federation and every other official responsible for the accounts of a trade union, employers’ organisation or federation for collecting, disbursing, keeping in custody or controlling its funds or moneys.
(2) Every official shall render an accurate account of all moneys received or paid by the official –
(a) to the trade union, employers’ organisation or federation and its members –
(i) upon resigning or vacating office;
(ii) at least once in every year at such time as may be specified by the rules of the trade union, employer’s organisation or federation; and
(iii) at any other time required by a resolution of the members of the trade union, employers’ organisation or federation or by its rules.
(b) to the Registrar, when requested by the Registrar.
(3) An account rendered under this section shall specify –
(a) all amounts received or paid by the official since assuming office or, if the official has previously rendered an account, since the date of the last account;
(b) the balance remaining in the possession of the official at the time of rendering the account; and
(c) all bonds, securities or other property of the trade union, employers’ organisation or federation entrusted to the custody of, or under the control of, the official.
(4) An account rendered under this section shall be in the Form R set out in the Third Schedule.
(5) The account rendered under this section shall be verified by statutory declaration and shall be audited by the holder of a practicing certificate issued pursuant to section 21 of the Accountants Act.
(6) After the account has been audited, the official shall, if resigning vacating office or if required by the trustees to do so, forthwith hand over to the trustees of the trade union, employer’s organisation or federation any balance in the official’s possession and all bonds securities, effects, books, papers and property of the trade union, employer’s organisation or federation in the official’s possession or custody or otherwise under the official’s control.
(7) Any official of a trade union, employer’s organisation or federation or any person who -
(a) neglects or fails to comply with any of the provisions of this section or;
(b) willfully makes, orders, causes or procures to be made any false entry in or omission from an account rendered in terms of this section, commits an offence.

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

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