s 4
( be a fi herein be pai this ( paymt (2) all mr in tru shall provi: (3) Fund and ( after first PII has prot suct genr rest thei e to ihly, vorks to a nber •the oyer here ıder e of ıder of a any mcil heir зuch dto ard : in have shall EMPLOYEES PROVIDENT FUND. Commissioner in Council, and may by instrument in writing under the common seal delegate to any person all or any of such powers and duties. (6) The Board shall have powers to make rules for the conduct of its proceedings. 4. (1) For the purposes of this Ordinance there shall Establishbe a fund to be câlled the Employees Provident Fund hereinafter referred to as the Fund, into which shall Fund. be paid all contributions required to be made under this Ordinance and out of which shall be met all payments required to be paid under this Ordinance. (2) The Board shall be the Trustee of the Fund and all monies belonging to the Funa shall be depositeo in trust in a bank or banks approved by the Board o1 shall be invested by the Board in accordance with the provisions of the Trustee Ordinance, 194.J. No. 66 of 1949. (3) Interest shall be payable on contributions to the Fund at such rate per annum, not being less than two and one half per centum, the Board may declare after and in respect of each year ending on the thirtyfirst day of December: Provided that— (a) no such interest shall be payable in respect of he year during which section 7 of this Ordinance comes into force (b) the Board shall not declare a rate of interest exceeding two and one half per centum per annum until the assets of thè Fund, valued at the market rate, exceed its liabilities by ten per centum; and (c) if on the last day of any such year the excess of the assets of the Fund, valued at the market rate, over its liabilities is insuffiuent to defrav the payment of such interest it the rate of two and one halt per centum such deficiency shall be met out of the general revenues of the Federation. (4) Where any deficiency in the assets of the Fund has been met in accordance with paragraph (c) of the srch defesubry shait berephid y the Board totof reneral revenues of the Federation from the assets o: he Fund at the end of the vear following the year ir respect of which such deficiency was met and shall then be a first charge upon the assets of the Fund. Expenses. Statement of accounts. Rate of contributions. No. 21 OF 1951.