| (1) |
A friendly society may, subject to the provisions of subsection (2), be established for one or more of the following objects, namely — |
| (a) |
the relief or maintenance during minority, old age, widowhood, sickness or other infirmity, whether bodily or mental, of members or their husbands, wives, widows, widowers, children or other relatives or dependants; |
| (b) |
the granting of annuities, whether immediate or deferred, to members or to nominees of members, or the endowment of members or nominees of members; |
| (c) |
[Section 2(1)(c) deleted by section 31 of Act No. 43 of 1975] |
| (d) |
the insurance of a sum of money to be paid or other benefit to be provided — |
| (i) |
on birth of a member’s child; or |
| (ii) |
on the death of a member or any other person mentioned in paragraph (a) or in the form of an endowment insurance on the life of a member or such a person; or |
| (iii) |
towards the expenses in connection with the death or funeral of any member or any such person; or |
| (iv) |
during a period of confined mourning by a member or such a person; |
| (e) |
the insurance against fire or other contingencies of the implements of the trade or calling of any member; |
| (f) |
the provision of a sum of money on a member’s leaving the service of his employer owing to dismissal, resignation or otherwise, unless in the opinion of the Authority the principal object is the provision of a sum of money on a member’s leaving such service because of marriage or intended marriage; |
| (g) |
the relief or maintenance of members, or any group of members, when unemployed or in distressed circumstances, otherwise than in consequence of the existence of a strike or lockout as defined in section 213 of the Labour Relations Act, 1995 (Act No. 66 of 1995); |
[Section 2(1)(g) substituted by section 211 of Act No. 66 of 1995]
| (h) |
the provision of sums of money for the advancement of the education or training of members or of the children of members; |
| (i) |
such other business as the Minister may by proclamation in the Gazette declare to be business in respect of which a friendly society may be established. |
[Section 2(1)(i) substituted by section 32 of Act No. 104 of 1993]
| (2) |
No association or business shall be regarded as a friendly society — |
| (a) |
if none of the persons entitled to the benefits specified in subsection (1) contributes to such association or business; or |
| (b) |
if any of its activities fall within the objects of a pension fund organization as set out in paragraph (a) or (b) of the definition of “pension fund organization” in section one of the Pension Funds Act, 1956; or |
| (c) |
if in terms of its rules each member is entitled at all times to withdraw the full amount of his contributions, subject to such notice as may be prescribed in its rules; or |
| (d) |
if the benefits mentioned in subsection (1) are provided exclusively by way of loans which in terms of its rules must be repaid. |
Mandating Procedures of Provinces Act, 2008
