Rules of the KOJADI Members’ Benevolence Scheme 中文版
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In exercising the powers conferred under by-law 46(x) of the By-laws of Koperasi Jayadiri Malaysia Berhad (KOJADI), the Board of Directors hereby makes the following rules of the above proposed scheme: |
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1. PURPOSE AND NAME
These Rules shall be called “The Rules on KOJADI Members’ Benevolence Scheme” (the Rules) formulated by the Board of KOJADI (the Board) to govern the scope and
operation of the KOJADI Members’ Benevolence Scheme (the Scheme).
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2 OBJECTIVE OF THE SCHEME
To grant bereavement benefit to the next-of-kin of a demised member as a token of remembrance.
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3. EFFECTIVE DATE
1 January 2010
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4. SOURCES OF FUNDS
The Scheme derives its sources of funds from the annual allocation made by the Board in accordance with the provisions of its By-laws and / or from contribution or
donation received by it from any sources from time to time.
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5. CONDITIONS PRECEDENT
a) The Scheme shall be open to all qualified members who have paid up and / or owned a minimum of RM100 shares each for at least three (3) full calendar years.
b) New members will not qualify if death occurs before completion of the minimum three (3) years membership.
c) A member who avails himself / herself for benefits under the Scheme shall be deemed to have agreed for all his / her shareholdings in KOJADI to be transferred, upon
his death, to his / her nominee(s) or next-of-kin.
d) The shares previously transferred or inherited from other members after and from the implementation of this scheme shall not be entitled to the computation of
benevolence payment if such shares are purchased, transferred or inherited from members for a period of less than 3 years.
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6. APPLICATION FOR BENEFIT
a) Application shall be made in the prescribed form and submitted together with all relevant supporting documents such as certified copies of NRIC and death
certificate or burial certificate to reach KOJADI within 180 days from the occurrence of death.
b) All applications not submitted to reach KOJADI within 180 days from the occurrence of death, for whatever reason(s) shall not be entertained and shall not be eligible to
receive any benefit under the Scheme.
c) Incomplete application form will be disqualified
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7. QUANTUM AND PAYMENT OF BENEFIT
a) Minimum RM300.00 on the demise of one member or at such quantum to be decided or calculated in such manner by pre-determined criteria to be decided by the
Board from time to time.
b) Subject to compliance to the conditions in clauses 5 and 6, the payment of benefit will be released in such manner and at such place and time as the Board shall
decide at its absolute discretion.
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8. AMENDMENTS TO THE RULES AND CESSATION OF THE SCHEME
The Board shall reserve the absolute right to add to, to delete or to amend these Rules from time to time or to cease the implementation of this Scheme at any time and
from time to time, as it deems fit and necessary. |
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Benevolence Scheme
