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KOJADI Members’ Benevolence
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Scheme

The Board of KOJADI hereby announces the implementation of “KOJADI’s Members’ Benevolence Scheme” effective from 1st January 2010 so as

to provide a one-time benefit on the demise of a qualified member as a token of remembrance(First Benevolence Payment)

 

Rules of the KOJADI Members’ Benevolence Scheme

In exercising the powers conferred under by-law 47(aa) of the By-laws of Koperasi Jayadiri Malaysia Berhad (KOJADI), the Board of Directors hereby makes the following rules of the above proposed scheme:

 

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).

 

2. OBJECTIVE OF THE SCHEME

To grant bereavement benefit to the next-of-kin of a demised member as a token of remembrance

 

3. EFFECTIVE DATE

1 October 2016

 

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.

 

5. CONDITIONS PRECEDENT

a) The Scheme shall be open to all qualified members who have paid up and / or owned a minimum of RM300 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) 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.

 

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

 

7. QUANTUM AND PAYMENT OF BENEFIT

a) A standard benevolence payment of RM200.00 is paid to next-of-kin of the demised member or at such quantum to 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.

 

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.