Compensation Fund Act, 2016 | Act 43 of 2016 — Zambia law | Esheria

Compensation Fund Act, 2016

This section says the Act may be cited as the Compensation Fund Act, 2016.

Jurisdiction
Zambia
Instrument
Act or statute
Citation
Act 43 of 2016
Version
27 Dec 2016
Language
en
Official source
View official record ↗
accounting annual reporting appointments auditing banking claims claims administration claims and payments claims determination claims handling claims processing claims verification committee governance committee membership committee procedure compensation payment compliance definitions delegation disclosure expenses financial disclosures fund administration fund distribution +20 more

Statute overview

About this statute

This section says the Act may be cited as the Compensation Fund Act, 2016. This section defines key terms used in the Act, including associate, claimant, Committee, Fund, and several office-holders. Compensation must be paid according to the principles of transparency, accountability, and equity. This section establishes the Compensation Fund Committee, requires it to administer and manage the Fund, and says the Principal State Advocate is the Committee’s Secretary. Committee members generally serve for three years, may be re-appointed for another three years, and can stay on for up to three months after expiry until a replacement is appointed. The office becomes vacant in the listed circumstances.

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