Circular 1/2002 – Submission of Audited or Unaudited Financial Statements

NAMIBIA FINANCIAL INSTITUTIONS
SUPERVISORY AUTHORITY
(ESTABLISHED UNDER ACT 3 OF 2001)
8TH FLOOR SANLAM CENTRE, TEL 241 201/241 208, FAX 258957 & E-MAIL FVRENSB@IWAY.NA

ENQUIRIES: EU TJIPEPA

REF. NO. 14/P

APRIL 3, 2002

THE PRINCIPAL OFFICERS OF ALL MEDICAL AID FUNDS

CIRCULAR LETTER 1/2002

SUBMISSION OF AUDITED OR UNAUDITED FINANCIAL STATEMENTS, QUATERLY REPORTS, BOARD OF TRUSTEES, PRINCIPAL OFFICERS, AUDITORS AND ADMINISTRATORS

In light of the Registrar's objective to safeguard the appropriate degree of protection for members and their dependants, and the financial soundness of medical aid funds, the above information would be of assistance to start the process.

1. In terms of the provisions of section 4 of the Medical Aid Funds Act, No. 23 of
   1995, the Registrar may require any document or information specified in the notice, relating to the financial or other affairs of the fund as mentioned above.

2. This office has noted that the majority of medical schemes have failed to inform
   us when changes are made to their board of trustees, principal officers, auditors and administrators. Kindly, furnish us with the current board of trustees and principal officer of your scheme, and indicate whether the appointees are from administrating companies or from members themselves. Auditors, administrators, fund-administrator's agreement, including agreed administration fees must also be provided.

3. Also, furnish us with audited or unaudited annual financial statements and
   quarterly reports for the financial year ended 2001; and the financial statements of the first quarter of 2002. Furthermore, the quarterly reports must with immediate effect, be submitted quarterly within fourteen days (14) after the end of each quarter.

BOARD: CHAIRPERSON: MS. A.C. NAKALE, VICE-CHAIR: MR. H.A.R.
MEIRING, MEMBERS: MR. L. IPANGELWA & MRS. L. MOUTON CHIEF EXECUTIVE OFFICER: FRANS VAN RENSBURG

4. The above information should be submitted to this office within 14 days as from
   the date of this letter. Your undivided attention to this urgent matter is required.

Please be advised of the new Bank details of NAMFISA:

STANDARD BANK NAMIBIA
BRANCH: GUSTAV VOIGTS CENTRE
ACCOUNT NUMBER: 24 - 144 - 0351
BRANCH CODE: 08 - 2772 - 00

Kind regards,

MARCELLINA GAOSES
FOR REGISTRAR: MEDICAL AID FUNDS