Periodical Grants
Allowances do not constitute pay
No deduction from wages
Deposit of Funds
Liability for Funds
(2)
2. On admission to the Fund Beneficiaries will be credited with a sum equal to six months' pay at the rates at which they were being paid on the day previous to admission. Thereafter they will be credited with sums equal to six months' pay for and on completion of every five years' service after the date of admission to the Fund (until the completion of ten years' service after the date of admission) at the rates at which they are being paid on the date on which they completed each such period of five years. After the completion of ten years' service after the date of admission to the Fund Beneficiaries will be credited annually with an amount equal to one tenth of their annual pay at the rates at which they are being paid on completion of such additional years' service.
3. Gratuities and/or any other allowance are not considered as pay for the above purposes.
4. No deductions will be made from the Beneficiaries' wages for the purposes of the Fund.
5. Funds will be deposited with such Bank and/or Banks as the Employers may decide from time to time in the name of the Trustees, and any interest received on accounts of Ben- eficiaries held in China and in Hongkong will be credited pro rata to their accounts and any interest earned on accounts of Beneficiaries held in Japan will be credited pro rata to their accounts.
6. The Employers shall not and the Trustees shall not be liable for any default on the part of any Bank in which the funds may be deposited or for any other involuntary losses, and
Benefit not pay- able until completion of 10 year's ser- vice.
Beneficiaries not to assign or pledge Fund
Dismissal and forfeited Funds
( 3 )
the Trustees shall be indemnified by the Long Service Fund against all risks and losses except such as may arise out of their own wilful default.
7. The amount standing to the credit of a Beneficiary will not be paid to him unless he has completed ten year's service with Employers after the date of his admission to the Fund, and then not until he leaves their service. Should, he, however, be compelled to resign before the completion of ten year's service after the date of admission to the Fund owing to ill health or dis- ablement or through no fault or indiscretion of his own, and his resignation be accepted on such grounds by the Employers, one tenth of one year's pay for each completed year of service since the last contribution by the Employers will be added to the amount standing to his credit at the date of his resignation.
8. Beneficiaries will not be allowed to assign or draw against the amounts standing to their credit, nor can such money be made available in any form as security for a Loan. Any Beneficiary who contravenes or attempts to contravene this rule renders himself liable to dis- missal from the service of the Employers.
9. Any sums granted under these rules shall be inalienable but subject in the discretion of the Trustees to forfeiture in the event of dismissal of any Beneficiary for dishonest con- duct, misconduct, breach of duty, or any act whereby the Employers shall suffer loss. Any sum so forfeited to revert to the Employers.