To provide for the formation, registration, incorporation, management, control and liquidation of close corporations; and for matters connected therewith.

Provides for the establishment, constitution, powers, duties and functions of the Social Security Commission, and for the payment of maternity leave benefits, sick leave benefits and death benefits to employees. Established for the latter purpose the Maternity Leave, Sick Leave and Death Benefit Fund.

All Namibian-registered employers with an annual payroll of N$1,000,000 or more, are required to pay one percent of the value of their actual annual payrolls as a levy to the NTA’s National Training Fund, on a monthly basis.

According to Government Gazette 7904, Government Notice 275 (published 15 September 2022), an employer who employs 10 employees or more, is required to submit relevant compliance reports in terms of this Act.