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191129 Fund Regulations (Final Draft) - Assistance fund (Santam)
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5.2 The Fund shall not be obliged to take any Measures and in the event that it does
exercise its discretion to take any Measures, the nature and the extent thereof, and
the allocation and use of any of the funds of the Fund for that purpose shall be in the

absolute and free discretion of the Fund, subject only to the provisions of these
Rules.

5.3 The Fund shall not be under any obligation to take up any loans or to encumber itself
in any similar manner in order to finance any Measures.

6. LEGAL STATUS

The Fund is owned by SAPPO and is not a separate legal person, distinct from SAPPO.
The Fund accordingly does not have the capacity to acquire rights and to incur obligations
in its own name, independently of SAPPO.

7. FUNDING

7.1 SAPPO has transferred an amount of R2 000 000.00 (Two Million Rand) to the Fund
upon its establishment.
7.2 SAPPO may –

7.2.1 annually allocate such additional funds to the Fund as determined by the Board
and as approved by the National Council; and

7.2.2 raise additional gratuitous funds for the Fund.

8. MANAGEMENT OF THE FUND

8.1 Appointment of sub-committee and delegation of powers

8.1.1 The Executive Board shall appoint a committee of members of the Executive

Board, named the Assistance Fund Committee (“Committee”) to manage the
Fund.

8.1.2 The Committee shall consist of at least (3) (Three) members, of which:

8.1.2.1 1 (One) shall be the Chief Executive Officer of SAPPO; and

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