Circular-NAMFISA-Levies-1-2002 – Levies on Medical Aid Funds

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

June 24, 2002

Enquiries:Ms.E.Tjipepa

TO: ALL PRINCIPAL OFFICERS OF MEDICAL AID FUNDS

Circular Letter: Levies1/2002

LEVY ON MEDICAL AID FUNDS

In terms of section 25 (1) of the Namibia Financial Institutions Supervisory Authority Act, (Act No.3 of 2001) you are hereby reminded that the deadline for the first bi-annual payment of levies as prescribed by the Act, is June 30, 2002.

Every registered fund as defined in section1 of the Medical Aid Funds Act,(Act No.23 of 1995) must pay the following annual levies:

(a) Basic levy: N$2000.00

(b) Additional levy: N$12.00 for each principal member of the registered fund as at the end of the year preceding the levy year.

The levies payable in terms of this notice must be paid to the Namibia Financial Institutions Supervisory Authority (NAMFISA) via a deposit into the bank account of the Authority The bank particulars are as follows:

Account No: 241 440 351 Standard Bank Namibia Gustav Voigts Branch (branch code no.2772)

Interest will be charged on amounts of overdue levies at a rate equal to the prevailing prime overdraft rate of Standard Bank Namibia. The levies referred to in this notice are inclusive of VAT.

If you have any questions, please feel free to contact us.

Yours truly,

Marcelina !Gaoses General Manager: Provident Institutions FOR REGISTRAR: Medical Aid Funds

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