Engineers Association Social Solidarity Fund Regulation

Regulation No. 83 of 2008

Engineers Association Social Solidarity Fund Regulation

 

Article 1: Regulation name and effect

 

This Regulation shall be cited “Engineers Association Social Solidarity Fund Regulation of 2008” and shall come into force as of the date on which it is published in the official gazette.

Article 2: Definitions

The following words and expressions, wherever stated herein, shall have the meanings given to them below unless the context implies otherwise:

Law: the applicable Engineers Association Law.

Association: Engineers Association.

Board: the Association Board.

Fund: Social Solidarity Fund.

Member: Association member.

Subscriber: the member subscribing to the Fund.

Fund General Assembly: all members subscribing to the Fund.

Committee: the Fund Management Committee formed by virtue of the provisions hereof.

Head: Committee Head.

Social Solidarity proceeds: the proceeds payable to the subscriber or beneficiary in accordance with the provisions hereof.

Objections Committee: the Committee formed by virtue of the provisions hereof.

Medical Committee: the Medical Committee approved by the Board.

Disability: the full permanent disability as may be decided by the Medical Committee.

Article 3: Fund objectives

The Fund’s objective is to secure a solidarity proceeds to the subscribers in case of disability or to the beneficiaries determined by the subscriber in the subscription application in case of death.

Article 4: Fund Management Committee

  1. The Fund shall be managed and supervised by a Committee to be named “Fund Management Committee” consisting of a Head and six members appointed by the Board, and the Committee shall, in the first meeting, choose from its members a Deputy Head and a Secretary.
  2. The Committee shall have the following missions and powers:
    1. To follow up the supervision of the Fund and execution of its general policy.
    2. To make a submission to the Board concerning the social solidarity proceeds disbursed to the subscriber or beneficiary in accordance with the provisions of this Regulation.
    3. To make a submission to the Board with respect to the investment of the Fund money in accordance with the provisions of the applicable legislations.
    4. To prepare the Fund annual budget and annual report of its operations and achievements and submit the same to the Fund General Assembly.
    5. To review the subscription applications and make a submission in respect thereof to the Board.
    6. To make a submission to the Board with regard to referring the sick cases to the Medical Committee.
    7. To make a submission to the Board with respect to the suggestions to amend this Regulation.
    8. Any other matters assigned to it by the Board.

Article 5: Committee meetings and membership term

  1. The Committee shall meet upon an invitation made by its Head or Deputy Head if the former is absent at least once a month or as may be necessary. The meetings will be quorate in presence of no less than the majority of the members apart from the Head or his Deputy, and the resolutions are made by the majority of the members’ votes.
  2. The Committee membership term is three years and the member shall lose its membership upon a resolution made by the Board if he misses three meetings in a row with no acceptable excuse.

Article 6: Fund subscription conditions

  1. The subscription to the Fund shall be optional for the member paying his annual subscriptions to the Association.
  2. The member who meets the below conditions shall make a subscription application on the form prepared for this purpose and signed by him before the Association approved employee, and in which he shall name the social solidarity proceeds beneficiaries in case of his death.
    1. He has not reached 50 years old yet upon submitting the Fund subscription application.
    2. He is free of diseases that prevent him from practicing his work; and if proved otherwise, his subscription to the Fund will be terminated and his remaining balance therein will be refunded.
  3. The Committee shall examine the subscription applications and make a submission in respect thereof to the Board; and the member shall be considered a subscriber as of the date on which the Board decides to accept his application and he pays any fees determined in accordance with the provisions hereof.

Article 7: Fund subscription procedure

  1. Upon submitting the Fund subscription application, the member shall pay a nonrefundable subscription fee of JOD 10.
  2. The subscriber shall pay JOD 200 as a fee for a subscription to the Fund; and the Board may, upon a submission made by the Committee, reconsider such amount pursuant to the Fund interest.
  3. An amount equal to the subscriber’s contribution to the social solidarity disbursed for each death or disability case shall be deducted from his balance in accordance with the provisions hereof.
  4. If the subscriber’s balance becomes less than JOD 100, he will be notified by the Association through an announcement made in two daily local papers and at the Association’s website so as to cover his balance within one month of the announcement date.

Article 8: Fund membership loss

  1. The subscriber loses his membership of the Fund upon a resolution made by the Board and a submission made by the Committee in any of the following cases:
    1. His balance continues to decrease until it reaches JOD 25 and he fails to raise it after they end of the notification period referred to in Clause D of Article 7 hereof.
    2. Upon a written request made by the subscriber.
  2. If the subscriber loses his membership of the Fund in accordance with the provisions of Clause A of this Article, he shall be given a refund of his balance in the Fund after a deduction of JOD 25 is made for administrative services.

Article 9: General Assembly’s missions and powers

  1. The Fund General Assembly consists of subscribers paying their Association annual subscriptions and their financial liabilities to the Fund, provided that their balances are no less than JOD 100.
  2. The Fund General Assembly shall have the following missions and powers:
    1. To suggest the Fund general policy.
    2. To approve the Fund annual budget and submit the same to the Board for approval.
    3. To approve the Fund annual financial and administrative report.
    4. To elect the Objections Committee.
    5. To review any subjects suggested by the subscribers, provided they are submitted to the Committee at least one week prior to the meeting date.

Article 10: Fund General Assembly

  1. The Fund General Assembly ordinary session shall be held during June of each year to view the subjects listed in the agenda.
  2. The Fund General Assembly shall be invited through an announcement in two local daily papers and at the Association website. The meeting shall take place at the Association’s centers and branches, as the case may be, at least two weeks prior to the date set for the meeting.
  3. The Fund General Assembly shall have the right to hold an extraordinary session upon a request made by the Board or upon a recommendation made by the Committee as may be approved by the Board, or upon a written request made by 100 members, and no matters unlisted in its agenda may be discussed.
  4. The Fund General Assembly shall be chaired by the Committee Head or Deputy Head; and in the event they are absent, the meeting shall be chaired by most senior attendant and in presence of a Board representative.
  5. The Fund General Assembly shall be quorate in presence of the majority of its members; and if the quorum is not met, the meeting will be adjourned for seven days, and the meeting will, in this case, be quorate with any number of attendants.

Article 11: Fund’s financial resources

The Fund’s financial resources consist of the following:

  1. Membership fees and subscription fees.
  2. 3% for administrative services deducted from the social solidarity proceeds.
  3. Donations and gifts paid thereto and accepted by the Board in conformity with the provisions of the Law.
  4. Any other financial resources as may be received and accepted by the Board.

Article 12: Social solidarity proceeds disbursement conditions

  1. The subscriber, when he suffers a disability, or the beneficiary, when the subscriber passes away, shall receive the social solidarity proceeds in accordance with the following formula: the number of subscribers multiplied by the number of the Fund subscription months at maximum 50 months multiplied by JOD 10 multiplied by 2%.
  2. 3% for administrative services shall be deducted from the total proceeds referred to in Clause A of this Article.
  3. In the event that the subscriber suffers a disability, the social solidarity proceeds payable to him will be disbursed to him at 50 monthly installments as of the disability date; and in case of his death, the remaining amount will be disbursed to the inheritors.
  4. Upon a submission made by the Committee, the Board shall be entitled to reconsider the maximum proceeds of the social solidarity every three years based on an actuarial study to be conducted for this purpose, provided that it does not exceed JOD 50.000.

Article 13: Committee on Settlement of Objections made by the subscribers

  1. The Fund General Assembly shall elect from its members a committee on settlement of the objections made by the subscribers consisting of seven members apart from the Board of Committee members, and the term of the membership of the committee will be three years.
  2. The Objections Committee shall elect from its members a Head and a Deputy Head.
  3. The Objections Committee shall meet upon an invitation made by the Board, its Head or three of its members. Its meetings will be quorate in presence of at least four members including the Head of Deputy Head, and it shall make its resolutions by the majority of its members’ votes.
  4. The subscriber or any of the beneficiaries shall have the right to object to the Board resolutions made by virtue of the provisions hereof before the Committee provided for in Clause A of this Article within 30 days of the date on which he is notified of the resolution subject matter of the objection.

Article 14: Miscellaneous

  1. The subscriber’s application information may only be changed or modified upon a written request made by the subscriber and the Committee’s consent.
  2. In case the member loses his membership of the Fund and wish to subscribe again, a new membership application shall be submitted.
  3. The members subscribing to the Fund in accordance with the instructions made by the Board before the provisions hereof came into force shall be considered subscribers to the Fund and in accordance with the provisions thereof.

Article 15: Fund’s place and money

  1. The Fund shall be situated in the Association’s Headquarter or any location as may be determined by the Board.
  2. Upon a resolution made by the board, the Fund’s money shall be deposited in the Association’s name with the local banks.
  3. The legislations in force in the Association shall be applicable to the Fund in relation to its money deposit and disbursement, as well as the signature on the financial matters in relation thereto.
  4. The Fund’s accounts and records are subject to the auditing of the auditor approved by the Association and they are subject to the Association’s accounting instructions.
  5. The Legal Department at the Association shall regulate the accounts of the Fund and prepare the financial reports.
  6. Under instructions made by the Committee for this purpose, the procedures necessary to be made and the documents required to be submitted in case of death or disability shall be specified.

Article 16: Fund dissolution

  1. The Fund shall be dissolved upon a resolution made by the Board upon a recommendation made by at least two thirds of the Fund General Assembly members in an extraordinary meeting held for this purpose.
  2. If the Fund is dissolved in accordance with the provisions of Clause A of this Article, the Fund’s assets will be distributed to the subscribers on a pro rata basis of the sum of the amounts paid by each of them.

Article 17: Regulation provisions enforcement

Upon a submission made by the Committee, the Board shall make the instructions necessary to enforce the provisions of this Regulation.

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