Municipal Workers' Retirement Fund v Financial Sector Conduct Authority and Another (1094/2018) [2021] ZAGPPHC 21 (6 January 2021)
The court found that, given the complexity and importance of the interpretation of section 7A(1) of the Pension Funds Act and the submissions made by both parties, there is merit in allowing another court to consider the matter. However, the court was not persuaded that the matter warranted the attention of the...
Source-derived case information.
- Citation
- [2021] ZAGPPHC 21
- Parties
- Applicant: Municipal Workers' Retirement Fund; Respondent: Financial Sector Conduct Authority; Respondent: Financial Services Board
- Court
- North Gauteng High Court, Pretoria
- Jurisdiction
- South Africa
- Case Number
- 1094/2018
- Procedural Posture
- Leave to Appeal / Application for Leave to Appeal
- Outcome
- Leave to appeal granted to the Full Court of the Division. Costs of the application to be costs in the appeal.
- Judges
- AC Basson
- Legal Topics
- Leave to Appeal Test, Board of Trustees Compliance, Pension Funds Act Interpretation
Source-derived case record
Summary, issues, holding and outcome
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Parties
Municipal Workers' Retirement Fund
Applicant
Financial Sector Conduct Authority
Respondent
Financial Services Board
Respondent
Procedural Posture
Leave to Appeal / Application for Leave to Appeal
Legal Issues
- 1 Whether there is a reasonable prospect that another court would reach a different conclusion regarding the previous order.
- 2 Whether the board of trustees of the Fund, as constituted at the relevant time, complied with section 7A(1) of the Pension Funds Act.
Ratio Decidendi
The court found that, given the complexity and importance of the interpretation of section 7A(1) of the Pension Funds Act and the submissions made by both parties, there is merit in allowing another court to consider the matter. However, the court was not persuaded that the matter warranted the attention of the Supreme Court of Appeal. Accordingly, leave to appeal was granted to the Full Court of the Division.
Court Disposition
Leave to appeal granted to the Full Court of the Division. Costs of the application to be costs in the appeal.
Orders
- Leave to appeal is granted to the Full Court of this Division.
- Costs of this application to be costs in the appeal.
Full Case Text
Judgment text and source record
39 paragraphs
IN THE HIGH COURT OF SOUTH AFRICA
(GAUTENG DIVISION, PRETORIA)
(1) REPORTABLE: NO
(2) OF INTEREST TO OTHERS JUDGES: NO
(3) REVISED
Case number: 1094/2018
In the matter between:
MUNICIPAL WORKERS’ RETIREMENT FUND
Applicant
(Respondent in the application for leave to appeal)
and
THE FINANCIAL SECTOR CONDUCT AUTHORITY
First Respondent
(Applicant in the application for leave to appeal)
THE FINANCIAL SERVICES BOARD
Second Respondent
JUDGMENT: APPLICATION FOR LEAVE TO APPEAL
BASSON J
[1] This is an application for leave to appeal brought by the first respondent (the Financial Sector Authority – “the Authority”)
against the judgment and order of this court. The application for leave to appeal is opposed by the applicant (the Municipal Workers’
Retirement Fund - “the Fund”).
[2] The test for leave to appeal is set out in section 17(1)(a)(i) of the Superior Court Act which requires that leave to appeal be granted where the Judge concerned is of the opinion that there is a reasonable prospect that another court would take a different view regarding the order of the Court.
[3] In this matter the Court was required to interpret the provisions of section 7A(1) of the Pension Funds Act[1] (“PFA”) with particular reference to the question whether the Fund’s board of trustees as constituted at the time complies with section 7A(1) of the PFA;.
[4] I have considered the extensive and very helpful written submissions filed on behalf of both parties. I am of the view that this is a matter that merits the consideration of another court. I am, however, not persuaded that this matter warrants the attention of the Supreme Court of Appeals in terms of section 17(6)(a) of the Superior Courts Act.
Order
[5] Leave to appeal is granted to the Full Court of this Division. Costs of this application to be costs in the appeal.
AC BASSON
JUDGE OF THE HIGH COURT
GAUTENG DIVISION OF THE HIGH COURT, PRETORIA
Electronically submitted therefore unsigned
Delivered: This judgment was prepared and authored by the Judge whose name is reflected and is handed down electronically by circulation to the Parties/their legal representatives by email and by uploading it to the electronic file of this matter on CaseLines. The date for hand-down is deemed to be 6 January 2021.
Appearances:
For the Applicant:
Adv A Cockrell SC, Adv LS Mbatha
Instructed by: Mothle Jooma Sabdia Inc.
For the Respondent:
Adv CE Watt-Pringle SC, Adv KS McLean
Instructed by: Shepstone Wylie Attorneys
[1] Act 24 of 1956.