Co-operatives Act, 2005 (Act No. 14 of 2005)

The provisions of the Long-term Insurance Act, 1998 (Act No. 52 of 1998), do not apply to co-operatives in respect of their activities in so far as they relate to a scheme or arrangement in terms of the constitution of the co-operative under which the amount of the benefits afforded by such scheme or arrangement is not guaranteed and the liability to the amount standing to the credit of a fund is specially maintained in respect of such claim.