Founding Affidavit and Annexures

1 of 4 No corresponding clause, new clauseadded. (a) 2. Preamble 2.1 The Trust is a permanent Trust established for the purposeof providing a Burial Benefit to - 2.1.1 the Beneficiary of a deceased Member; or 2.1.2 a Member of the deathof a Dependant. 2.2 Inaddition to its objective of providing Burial Benefits, the Trust may provide other Benefits to Members and facilitate, develop, uplift, assist and participate in other projects for the benefit of Members, ZCC, communities and other thirdparties in accordance with the provisions with the deed of the Trust. (b) 2.3 The Trust is required to issue - 2.3.1 Master Regulations setting out the requirements of membershipand to deal with relatedmatters such as the payment of Contributions, the nominationof Beneficiaries and the determinationof Dependants; 2.3.2 Burial Benefit Regulations, setting out Burial Benefits provided by the Trust, 2.3.3 Regulations setting out any further Benefits providedor procuredby the Trust in its sole discretion. 2.4 to qualify for any Benefit, a Member must satisfy the qualifying requirements set out in theMaster Regulations, as well as any specific requirements inany applicable Regulations. 2.5 Contributions are payable by Members to their Churchand no amount is directly payable to the Trust by Members. 2.6 After payment of an initial Contribution, a Member is required to pay a Contributioneachmonth thereafter. 2.7 A portionof each Contribution receivedby ZCC will be donated by ZCC to the Trust to be used inter alia to procure the Benefits and to meet the costs of administrationof the Trust (c) Important Provisions This is not specifically provided for herein. d) 3. Commencement Commence witheffect from the Commencement Date and replace all Master Regulations previously issued. 4. Membership 4.1 Subject to the requirements in regulation4 (Membership), a Member shall bea person who is (i) a member of the ZCC, (ii) 16 years or older, (iii) purchaseda Membership Book and (iv) paid an initial Contribution, and shall continue to be a Member as long as sucha person remains member of the ZCC. 4.2 A personwho satisfies the above requirements shall be a member from the later of (i) the dateof issue of a Membership Book or (ii) the Date of Payment of an Initial Contribution. e) 4.3 A personwho satisfies the other requirements of regulation4 (Membership), shall be a Member for purposes of any Regulation if the person, at the relevant date - 4.3.1 is inpossessionof a MembershipBook; 4.3.2 has provideda certificate from a Churchattesting that such person is a member of ZCC, if requiredby the Trust, 4.3.3 has returned theMPP Form to the Trust, andwhichMPP Form has been receivedby the Trust within a periodof 30 days from thedate of issue of theMembershipBook by the Pay Point, and such MPP Form has been – 4.3.3.1 properly and fully completed, and 4.3.3.2 signedand datedby the Member Obligation to payMembership Contributions This is not specifically provided for herein. (f) 5. Determination of Membership Contributions 5.1 The Trust shall, in its sole discretion, determine the Contributionpayable from time to time and the effective date of a Contribution so determined. 5.2 A Contributionpayable as envisaged in regulation 5.1, shall be set out inSchedule 1, as amended from time to time, and shall, on signature by the Trust, form part of these Master Regulations in substitutionof any previous Schedule 1 5.3 The Trust shall give noticeof each change to the Contribution by – 5.3.1 giving notice via Pay Points of any change and theeffective date thereof, and 5.3.2 issuing Pay Points withReceipts showing the new Contribution, which Receipts will be soldby Pay Points from the effective date of suchnew Contribution Reasons for material differences a) As canbe ascertained form the contents of the clause, the reason for this specific insertion is to explain the rationale behind the amendment, which is due to a change in insurance laws. b) The reason for this specific change is to make provision for the amended insurance scheme pursuant to promulgationof the Insurance Act 18 of 2017. c) The reason for this specific change is to make provision for the amendedpolicy structure as requiredby a change in insurance legislation (see b) above for more details in this regard). The amendment therefore gives effect to the fact that the Trust will no longer provide the underwrittenbenefits pursuant to the conclusionof group insurance policies, but instead will procure andpay premiums in respect of individual insurance policies to be concluded between the Member and the Insurer. More specifically, the amendments provide for the issuing of the relevant regulations by the Trust to giveeffect to this change in the insurance structure. In addition, the amendments also remove the requirement that the Master Regulations must regulate theappointment of beneficiaries andqualifying criteria for Dependants. This is so as these requirements will not be determinedby the Trust any longer, but will insteadbe determined by the insurer in terms of the individual policies. Thepayment of Contributions is dealt with in regulation7 of theamendedMaster Regulations. Theprovision that the ZCC will donate a portion of the Contribution to the Trust is also removed in order to cater for the amended insurance scheme, in terms of whichMembershipContributions will be paid for membership to the Trust, andno longer to the Church. d) Included to ensure compliance with the Consumer ProtectionAct, to the extent applicable. e) The reason for this specific change, which is that Members must now be18 years or older, is to ensure that a Members has the necessary legal capacity to enter into a contract. f) The reason for this specific insertion is i) to make it clear that Members are required to continue to pay their Membership Contributions (whichhas always been required (see regulation 8.1 on the next tab) and ii) to provide for any additional payment mechanisms (other than cash) which may be implemented by the Trust in future. This will not necessarily be to the detriment, but if anything, to the benefit of, the Member. *To the extent anydifferences between the provisions of the existingMaster Regulations and the amended Master Regulations have been identified that do not adverselyaffect the rights of the members to the Kganya Benefits Fund Trust, such changes have been marked in orange in the corresponding cells below. ** To the extent any differences between the provisions of the existing Master Regulations and the amended Master Regulations have been identified that do adverselyaffect the rights of the members to the Kganya Benefits Fund Trust, such changes have been marked in red in the corresponding cells below. *** Material differences or changes indicated in red shading shall be accompanied bya letter referencing the material difference or change in the marked column and the corresponding letter referencing such material difference or change will be accompanied by an explanation for the material difference or change. **** Capitalised terms used in this comparison shall have the meaningascribed to them in the documents considered in this comparison, unless indicated otherwise Master Regulations relating to Membership of the Trust and the Kganya Group Scheme (pre-amendment) Master Regulations relating to Membership of the Trust (as amended) Amendment and replacement of the Master Regulations and all other Regulations 3. Amendment and replacement of the Master Regulations and all other Regulations 3.1 The Trust was established during 2000 by the ZCC as the donor for the purpose of providing/procuring benefits for Members as vested beneficiaries of the Trust. 3.2 Due to a change in the applicable insurance laws, certainamendments had to be made to the Trust as set out in the Trust Deed. 3.3 The amendments to the Trust Deedhave been confirmedby anorder of the HighCourt as contemplated in section13 of the Trust Property Control Act. 3.4 The changes to the Trust and the Trust Deed have resulted in changes to the rights of the Members, which changes take effect on the Effective Date. 3.5 As such, the Trust issues theseamended Master Regulations and the Regulations, which replaces all previous Master Regulations andall regulations previously issuedby the Trust with effect from the Commencement Date. 2. Preamble 2.1 The Trust is a permanent Trust established for the purpose of procuring/providing the Benefits for the Members who have paid their MembershipContributions; and qualify for the Benefits in terms of the Regulations 2.2 Inaddition to its objective of procuring/providing the Benefits for the Members as set out in regulation 2.1 the Trust may in its sole discretion, as provided for in the Trust Deed - 2.2.1 procure and/or provide other benefits for the Members;and 2.2.2 facilitate, develop, uplift, assist andparticipate inother projects for the benefit of Members, the ZCC, communities and other thirdparties who qualify as trust beneficiaries, in accordance with the provisions of the Trust Deed. 2. Preamble 2.3 the Trust is required to issue the - 2.3.1 the Master Regulations setting out the requirements for Membership to the Trust, and to deal with relatedmatters suchas the Membership rights and payment of Membership Contributions; 2.3.2 the Basic Benefits Regulations dealing with the Basic Benefits available to Members (other thanChurchOfficials who are Members); and 2.3.3 the EnhancedBenefits Regulations available to ChurchOfficials who are Members. 2.4 to qualify for Membership to the Trust and thereby the Benefits, a Member must satisfy the requirements in these Master Regulations, as well as the specific requirements in the Basic Benefits Regulations and/or the Enhanced Benefits Regulations 4. Important Provisions 4.1 To the extent that the Consumer ProtectionAct applies to these Master Regulations, the Trust has a duty to point out certain provisions in theseMaster Regulations. The clauses which contain these important provisions andwhy they are important are set out below: 4.1.1 Limitationof Liability 4.1.1.1 Regulation7.4.9 and regulation18.6 of these Master Regulations and clauses 23.6 and23.7 of the Trust Deedare important because they limit and exclude obligations, liabilities and legal responsibilities that the Trust and other persons or entities may otherwisehave to a Member. 4.1.1.2 As a result of these clauses, a Member's rights and/or remedies against the Trust and theseother persons andentities are limited andexcluded. These clauses also limit andexclude a Member's right to recover or makeclaims for losses, damages, liability or harm a Member or others may suffer. 4.1.2 Assumptionof Risk, legal responsibilities and liabilities of andby a Member 4.1.2.1 Regulation7.4.6, 7.4.7, 7.5.4, 7.4.8, 7.5.4 and13.2 are important because a Member takes on risk, legal responsibilities and liability. As a result of these clauses, a Member may also be responsible for claims andother amounts. A Member will also be responsible for, andaccepts, various risks, damages, harm, and injury whichmay be sufferedby a Member andothers for what is stated in these clauses. 4.1.3 Indemnities by a Member Clause 23.8 of theTrust Deed requires a Member to indemnify the Trust against claims, loss, damages andharm that may be sufferedby the Trust andother persons or entities as a result of events set out in clause 23.8 of the Trust Deed 5. Commencement 5.1 The Master Regulations commence witheffect from the Commencement Date and shall endureuntil terminated in accordance with regulation15.3.1 5.2 As recorded In regulation3.5, these Master Regulations replace all Master Regulations previously issued. 6. Membership 6.1 subject to the requirements in regulation6, a Member shall bea person who is a member of the ZCC, 18 years or older, purchaseda MembershipBook and paid an initial MembershipContributionand shall continue to be a Member as long as sucha person remains a member of the ZCC. 6.2 A personwho satisfies the above requirements shall be a Member of the later of the date of issue of a MembershipBook or the Date of Payment of an Initial Membership Contribution. 6. Membership 6.3 A personmust complete anMPP Form inorder to become a Member of the Trust. Such completed original MPP Form must be submitted to a Pay Point 6.4 Unless otherwise determined by the Trust, a personwho satisfies all the requirements of this regulation6, which includes, without limitation all of the requirements as set out in regulation6.1 above, shall be a Member for purposes of any regulation contained in the Regulations if the person - 6.4.1 is inpossessionof a MembershipBook; 6.4.2 has provideda certificate attesting that suchperson is a member of ZCC, if required by the Trust; and 6.4.3 has returned theoriginal MPP Form to the Trust and/or the Administrator (as applicable) via the Pay Point, andwhichMPP Form has been receivedby the Trust and/or the Administrator within a period of 30 (thirty) days from the date of issue of the MembershipBook. The MPP Form must be - 6.4.3.1 properly and fully completed;and 6.4.3.2 signedand datedby the Member. 6.4.4 TheTrust is empowered, in accordance with the trust deedof the Trust, to terminate theMembership of a Member where suchMember no longer meets the requirements for Membership of the Trust, even if such a Member is still a member of the ZCC 7.1 Obligation to PayMembership Contributions 7.1.1 A Member shall at all times pay the MembershipContributioneachMonth to the Trust. Payment of the Membership Contributionentitle a Member to the Benefits, subject to such conditions as set out in the Regulations. 7.1.2 MembershipContributions must be paid inaccordance with the Payment Methodas may be prescribedby the Trust from time to time. 7.1.3 To the extent that the Payment Method of a Membership Contribution is cash, the MembershipContributions shall be paid to and receivedby a Pay Point, against the issue of a Receipt to be affixed in the Payment Receipt Booklet. 7.2 Determination of Membership Contributions 7.2.1 TheTrust shall, inaccordance with the Trust Deed, determine the MembershipContributions payable from time to time in respect of the Basic Benefits and the EnhancedBenefits, respectively. 7.2.2 TheTrust shall also specify the effective date of any amendments to the Membership Contribution. 7.2.3 TheTrust shall givenotice of any change to the MembershipContributionby - 7.2.3.1 giving notice via Pay Points of any change and the effective date thereof; and 7.2.3.2 issuing Pay Points withReceipts showing the new MembershipContributions, which Receipts will be issuedby Pay Points from the effective date of suchnew Membership Contribution. 7.3 Membership Contribution Amount 7.3.1 TheMembership Contributionpayable each Monthas envisaged in regulation7.1 is set out in Annexe D, as amended from time to time, and shall, on signature by the Trust, form part of these Master Regulations in substitutionof any previous annexures or schedules dealing with the MembershipContribution