3B.   Any lump sum benefit which becomes recoverable from-

(a)     a pension fund, pension preservation fund, provident fund, provident preservation fund or retirement annuity fund; or

(b)     an insurer as defined in section 29A(1) if that lump sum benefit is payable by or provided in consequence of membership or past membership of a fund contemplated in subparagraph (a),

in consequence of the termination of a trust shall in pursuance of that termination, on the date of payment of that lump sum benefit, be deemed to have accrued to that trust immediately prior to the date of termination of the trust.

[Paragraph 3B inserted by section 39 of Act 23 of 2020]