#KnowYourNSSF How well do you know the act that mandates us to handle Social security for you?! Join us as we explore its various sections to help you understand what the Fund does and how it does it. Today let us look at section 3 which focuses on the Board of Directors; 3. Board of directors. (1) The governing body of the fund shall be a board of directors consisting of a chairperson, the managing director and not less than six nor more than eight other members. (2) The chairperson and the other members of the board, other than the managing director, shall be appointed by the Minister for a period of three years and upon such terms and conditions as may be specified in the instruments of appointment and shall be eligible for reappointment. (3) The Minister shall revoke the appointment of the director— (a) if he or she is unable to perform the functions of his or her office; (b) if he or she is insolvent or bankrupt; or (c) if he or she is convicted of an offence involving fraud or dishonesty. (4) A director may, by writing under his or her hand addressed to the Minister, resign his or her office. This section talks about the governing arm of the Fund which includes the Chairman, the Managing Director and other board members. It then goes on to tell how these members are appointed or removed. Find out more by downloading the entire NSSF Act from our website to learn more about this law. https://nssfug.org/19/Resources/NSSF_Act to get an extensive read.
Posted on: Tue, 21 Oct 2014 12:00:01 +0000