fund shall come into existence only when it is established by agreement of the employees and the employer and registered under this Act, to serve as a security for the employees in case of their death
shall form a quorum. If the Chairman of the SEC is not present at the meeting or cannot perform his duty, and if there is a Vice-Chairman, the Vice-Chairman present at the meeting shall be the Chairman of
position. SECTION 12. At least half of the commissioners of the SEC shall form a quorum. If the Chairman of the SEC is not present at the meeting or cannot perform his duty, and if there is a Vice-Chairman
established by agreement of the employees and the employer and registered under this Act, to serve as a security for the employees in case of their death, termination of employment, or resignation from the fund
Act, to serve as a security for the employees in case of their death, termination of employment, or resignation from the fund, by payments of the employees’ savings and the employer’s contribution in
approved project, if the assets are secured by security other than rights of mortgage, rights of pledge or rights arising from a suretyship, such rights shall pass to the transferee on each transfer through
under an approved project, if the assets are secured by security other than rights of mortgage, rights of pledge or rights arising from a suretyship, such rights shall pass to the transferee on each
: “SECTION 15. The SEC shall have the power to appoint a sub-committee to perform any matter as assigned by the SEC. 5 The provisions of Section 12 shall apply to the meeting of the sub-committee mutatis
entitled to inspect his account and name. Section 16. As regards the transfer of assets under an approved project, if the assets are secured by security other than rights of mortgage, rights of pledge or
the transferred assets. A debtor shall be entitled to inspect his account and name. Section 16. As regards the transfer of assets under an approved project, if the assets are secured by security other