LIQUIDATION OF THE FUNDS. 7.1 Upon the expiry of this Collective Agreement or any extension thereof and, in the event of no subsequent agreement being negotiated for the purpose of continuing the operations of the Fund(s) within two years from the expiry of this Collective Agreement or any extension thereof, the Fund(s) shall be liquidated by the Fund(s) trustees in terms of clause 7 of this Chapter. 7.2 In the event of the Fund(s) trustees in office at the time being unable to administer and/or liquidate the Fund(s) in terms of this clause, and/or being unable or unwilling to discharge their duties, or a deadlock arising which renders the administration of the Fund(s) impracticable or undesirable in the opinion of the Registrar of Labour Relations, he may appoint a trustee or trustees to carry out the duties of the trustees and such trustee or trustees shall possess all the powers entrusted to the trustees for such purposes. 7.3 In the event of the dissolution of the Council or in the event of its ceasing to function during any period in which this Collective Agreement is binding in terms of the Act, the Fund(s) shall continue to be administered by the trustees in office at the time.
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Samples: Collective Agreement, Collective Agreement, Collective Agreement
