General explanatory note:
Words underlined with solid line indicate insertions in existing enactments. |
Act
To amend the Divorce Act, 1979, so as to provide that a party to a divorce action may share in the pension interest of the other party; and to provide for matters connected therewith.
(English text signed by the acting State President.)
(Assented to 1 March 1989.)
Be it enacted by the State President and the Parliament of the Republic of South Africa, as follows:―
Amendment of section 1 of Act 70 of 1979
1. Section 1 of the Divorce Act, 1979, is hereby amended by the addition to subsection (1) of the following definitions:
“ ‘pension fund’ means a pension fund as defined in section 1 (1) of the Pension Funds Act, 1956 (Act No. 24 of 1956), irrespective of whether the provisions of that Act apply to the pension fund or not;
‘pension interest’, in relation to a party to a divorce action who—
‘rules’, in relation to a pension fund, means rules as defined in section 1 (1) of the Pension Funds Act, 1956.”.
Amendment of section 7 of Act 70 of 1979, as amended by section 36 of Act 88 of 1984
2. Section 7 of the Divorce Act, 1979, is hereby amended by the addition of the following subsections:
“(7) (a) In the determination of the patrimonial benefits to which the parties to any divorce action may be entitled, the pension interest of a party shall, subject to paragraphs (b) and (c), be deemed to be part of his assets.