Founding Affidavit and Annexures

2 of 4 6. Payment of Contributions 6.1 After payment of the initial Contribution as envisaged by regulation 4.2.2, a Member shall thereafter pay a Contribution each ensuing Month which Contribution – 6.1.1 is due on the first day of each Month, 6.1.2 must be paid on or before the last day of such Month, 6.1.3 must be paid to a Pay Point, and 6.1.4 must be evidenced by a Receipt. 6.2 A Contribution shall only be considered paid for purposes of this Master Regulations and the Regulations if – 6.2.1 the Contribution was paid to a Pay Point, and 6.2.2 is evidenced by a Receipt, provided always that the onus shall be on the Member to ensure that a Receipt is obtained. 6.3 A Member shall not pay more than two Contributions in advance. The onus shall be on the Member to ensure that no more than two advance payments are made (a) 6.4 A Member shall never be required to and must never pay more than the amount specified on the Receipt, and the onus shall always be on the Member to ensure that such amounts are paid. 6.5 Once a Contribution has been paid by a Member or third party, such Contribution shall not be refundable for any reason, subject to cooling off rights afforded, including but not being limited to – 6.5.1 the death of the Member, 6.5.2 the person not qualifying as a Member, 6.5.3 the Contribution being paid after the date of death of a Member or the assured life, 6.5.4 the Member not being eligible or qualifying for any Benefit, and 6.5.5 termination or amendment of the Master Regulations, the Regulations or any part thereof (b) 7. Date of Payment of a Contribution 7.1 The Date of Payment of a Contribution shall be the date it was paid to a Pay Point, provided that for purposes other than determining the amount of the Contribution payable by a Member in accordance with Schedule 1, the Date of Payment shall be deemed until the contrary is shown by the Member, Beneficiary or the Trust to be the Sunday preceding the date on which the Contribution was deposited into the bank account of ZCC by the Pay Point. 7.2 For purposes of regulation 7.1 the Receipt Counterfoils and the copy of the bank deposit slip shall serve as prima facie evidence to determine the Date of Payment (c) The Benefits This is not specifically provided for herein. (d) Donations to the ZCC This is not specifically provided for herein. (e) Designation of Church Officials This is not specifically provided for herein. (f) 8. Membership Books, Continuation Membership Books and Replacement Membership Books 8.1 The Trust shall, in its sole discretion, determine the purchase price of a Membership Book, a Continuation Membership Book and a Replacement Membership Book from time to time and the commencement date of a price so determined. 8.2 A price determined in accordance with regulation 8.1 shall be appended to Schedule 2 and such amended schedule shall, on signature by the Trust, form part of these Master Regulations in substitution for any previous Schedule 2 8.3 On personal application by the Member on such dates and times as may be determined by the Trust at 8.3.1 the Kganya Business Centre at Moria; or 8.3.2 such other place as the Trust may determine from time to time; the Trust shall at its own cost photograph the Member and insert such photograph in the Membership Book. Reasons for material differences a) The reason for this specific change is to provide for the amended insurance scheme, and confirms that i) the Trust will only be obliged to a pay the premium in respect of an individual policy to be concluded between the Member and the insurer if the Member paid their Membership Contribution and ii) payment of a Membership Contribution is a condition of Membership to the Trust. b) The reason for this specific change is to provide for the amended insurance scheme. The Trust will, in terms of the amended Master Regulations, repay Membership Contributions to a person who exercises a cooling-off right. c) The reason for this specific insertion is to bring it in line with the individual policy wherein entitlement of Membership Benefits are dependent on payment of Membership Contributions. d) The reason for this specific insertion is to regulate the vested rights of Members as it relates to their individual policies and payment of the Membership Contributions so as to make provision for the change in insurance laws. e) The reason for this specific change is to provide for the amended insurance scheme, in terms of which Members will pay a Membership Contribution for Membership to the Trust and no longer a Contribution to the Church. f) The reason for this change is to provide clarity as to the designation of Church Officials, who qualify for benefits in terms of the Enhanced Benefits Regulations. The amended Master Regulations afford the Trust the discretion to designate other Church Officials. This does not negatively impact on the rights of any existing Church Officials, as the persons who qualify as Church Officials under the existing Master Regulations is retained in the amended Master Regulations. 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) *To the extent any differences between the provisions of the existing Master Regulations and the amended Master Regulations have been identified that do not adversely affect 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 adversely affect 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 by a 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 meaning ascribed to them in the documents considered in this comparison, unless indicated otherwise 7.4 Payment of Membership Contributions 7.4.1 After payment of an initial Membership Contribution as envisaged in regulation 7.2.2, a Member shall thereafter pay a Membership Contribution each subsequent Month. 7.4.2 A Membership Contribution - 7.4.2.1 is due on the first day of each Month; 7.4.2.2 must be paid on or before the last day of such Month; 7.4.2.3 must be paid to a Pay Point or through such other Payment Method as prescribed and permitted by the Trust from time to time; and 7.4.2.4 must be evidenced by a Receipt. 7.4 Payment of Membership Contributions 7.4.3 Payment of the Membership Contributions is a condition to i) Membership to the Trust and ii) the Member's entitlement to Benefits, subject to the Basic Benefits Regulations and the Enhanced Benefits Regulations. 7.4.4 Should a Member fail to pay his/her Membership Contributions to the Trust, 7.4.4.1 the Member may no longer be entitled to the Benefits as prescribed in the Regulations; and 7.4.4.2 the Trust shall not be obliged, and shall no longer pay, the premiums due in terms of the Insurance Contract in respect of such Member until the Member resumes payment of his/her Membership Contributions. The cover and benefits as set out in the Insurance Contract may, in such case, be forfeited and will be dealt with as prescribed in such Insurance Contracts. 7.4.5 A Membership Contribution shall only be considered paid for purposes of these Master Regulations and the Regulations if - 7.4.5.1 the Membership Contribution was paid to a Pay Point or through such other Payment Method as prescribed and permitted by the Trust from time to time; and 7.4.5.2 is evidenced by a Receipt, which shall be provided to the Member once the Member has made payment of the Membership Contribution. The Member will be responsible for retaining the Receipt as evidence of the payment of the Membership Contribution. 7.4.6 A Member shall not pay more than two Membership Contributions in advance. It is the duty of the Member to ensure that no more than two advance payments are made 7.4 Payment of Membership Contributions 7.4.7 In the event that a Member dies, the Trust shall refund any Membership Contributions paid in advance to the Beneficiary, into the bank account nominated by the Beneficiary 7.4.8 Where a Member pays the Membership Contributions in cash at the Pay Points, a Member shall never be required to, and must never pay, more than the amount specified on the Receipt. The Member must at all times ensure that the correct amount as specified on the Receipt is paid for that Receipt. 7.4.9 Subject to regulation 7.4.7 above and regulation 17 below, once a Membership Contribution has been paid by a Member (or a third party on behalf of a Member), such Membership Contribution shall not be refundable for any reason whatsoever including but not limited to - 7.4.9.1 the death of the Member; 7.4.9.2 the person not qualifying as a Member; 7.4.9.3 the Membership Contribution being paid after the date of death of a Member; 7.4.9.4 the Member not being eligible or qualifying for the Benefits; and 7.4.9.5 termination or amendment of the Master Regulations, the Regulations or any part thereof 7.5 Date of Payment of Membership Contribution 7.5.3 For purposes of determining a Member's entitlement to Benefits - 7.5.3.1 a Membership Contribution shall only have a Date of Payment in a particular Month if the Date of Payment is on or before the last day of such Month; 7.5.3.2 Membership Contributions paid on or after the happening of the insured event as provided for in the Insurance Contracts shall be excluded. 7.5.4 The Receipt Counterfoils and the copy of the bank deposit slip shall serve as prima facie evidence to determine the Date of Payment 7.5.5 Any detection of misrepresentation of Receipts may influence a Member's entitlement to the Benefits. 8. The Benefits 8.1 Members who – 8.1.1 satisfy the requirements for Membership as set out in these Master Regulations, 8.1.2 have paid their Membership Contributions, subject at all times to the provisions of regulation 7.4.4 above; and 8.1.3 satisfy the requirements of the Regulations, are entitled to the Benefits as vested beneficiaries of the Trust. 8.2 All Members who meet the above requirements shall qualify for the Basic Benefits as set out in the Basic Benefits Regulations. 8.3 Only Church Officials as Members shall qualify for the Enhanced Benefits as set out in the Enhanced Benefits Regulations 9. Donations to the ZCC 9.1 It is recorded that the Trust shall, from the Membership Contributions received, donate an amount to the ZCC for each Member who has paid a Membership Contribution, subject to the provisions of the Trust Deed. 9.2 The Trust shall determine the amount to be donated to the ZCC from time to time in accordance with the provisions of the Trust Deed 10. Designation of Church Officials 10.1 Church Officials, who are Members, shall qualify for the Enhanced Benefits, as set out in regulation 8.3. 10.2 The ZCC shall from time to time, in consultation with the Trust, designate other persons who may also qualify as Church Officials, as provided for in the Trust Deed 11. Membership Books 11.1 The Trust shall, in its sole discretion, determine the Membership Book Purchase Price, and the commencement date of the Membership Book Purchase Price. 11.2 The Membership Book Purchase Price determined in accordance with regulation 11.1 shall be appended as Annexe C and such amended annexure shall on signature by the Trust form part of these Master Regulations in substitution of any previous annexures or schedules dealing with the Membership Book Purchase Price 11.3 On personal application by a Member on such dates and times as may be determined by the Trust at - 11.3.1 the Kganya Business Centre at Moria; or 11.3.2 such other place as the Trust may determine from time to time; the Trust shall at its own cost photograph the Member and insert such photograph in the Membership Book. 12. Existing Membership Books to remain in circulation 12.1 In respect of Existing Members, it is recorded that: 12.1.1 All terms and conditions in any Existing Membership Book are repealed and replaced with the terms and conditions contained in the Membership Terms and Conditions Booklet with effect from the Effective Date. 12.1.2 An Existing Membership Book of an Existing Member will: 12.1.2.1 continue to remain in force in respect of - 12.1.2.1.1 the details contained in the MPP Form and/or the AMPP Form, completed before or after the Effective Date; 12.1.2.1.2 the details of any Leeto la Moria Receipts procured prior to, or after, the Effective Date; and 12.1.2.1.3 the details of any dependent children as recorded in the Existing Membership Book, either before or after the Effective Date. 12.1.2.2 continue to be used for purposes of Receipts issued prior to, and after, the Effective Date pursuant to payment of Membership Contributions, and will therefore become and be treated as the Payment Receipt Booklet of a Member. 12.1.3 This means, with effect from the Effective Date, that: 12.1.3.1 all terms and conditions in an Existing Membership Book will be replaced with the terms and conditions in the Membership Terms and Conditions Booklet; and 12.1.3.2 an Existing Membership Book will continue to be used as a Payment Receipt Booklet until such time when a Continuation Payment Receipt Booklet or a Replacement Payment Receipt Booklet is required and acquired by the Member. 12.2 Existing Members will not be required to pay for the Membership Terms and Conditions Booklet and will receive this free of charge by virtue of Membership to the Trust as at the Effective Date. 12.3 However, if an Existing Member loses his/her Existing Membership Book or if their Existing Membership Book is full (it being understood that the Existing Membership Book will constitute a Payment Receipt Booklet with effect from the Effective Date), the Existing Member will be required to purchase a Replacement Payment Receipt Booklet or a Continuation Payment Receipt Booklet against payment of the Membership Book Purchase Price. 7.5 Date of Payment of Membership Contribution 7.5.1 Where a Membership Contribution is paid in cash at a Pay Point as the Payment Method, the Date of Payment of a Membership Contribution shall be the date it was paid to a Pay Point. Where such Date of Payment cannot be accurately ascertained for whatsoever reason, the Date of Payment of a Membership Contribution shall be deemed to be the Sunday preceding the date on which the Membership Contribution paid by the Member was deposited into the bank account of the Trust by the Pay Point. 7.5.2 Where a Membership Contribution is paid other than in cash at a Pay Point as the Payment Method prescribed and permitted by the Trust, the Date of Payment of a Membership Contribution shall be the date as specified on the Receipt.