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WHAT DO THE DIFFERENT TERMS USED IN RESPECT OF MEMBERSHIP MEAN?

Member means a person admitted to membership of the Society in terms of its Rules.

Member Firm means a company, corporate body, special scheme, statutory corporation, partnership, employer or self-employed person which or who contributes as a member firm to the Society.

Membership Year means the period of 12 months commencing from the first day of the month in which the member or dependant originally joined the Society.

Retirement Age means the age set by the Board, at its sole discretion, from time to time at which a member is deemed to have retired from employment.

Dependant means a dependent spouse, dependent child, dependent student and/or other dependant.

Dependent Spouse means the member’s legal husband or wife.

Dependent Child means the member’s child, stepchild, legally adopted child or child committed to the member’s custody and control by virtue of a Court Order, provided that such a dependent child is under the age of 18 and fully dependent on the member.

Other Dependant means such other dependent person as the Board may, in its absolute discretion, decide.


May 27, 2020
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