Circular-PI-MA-8 – Levies

NAMFISA NAMIBIA FINANCIAL INSTITUTIONS SUPERVISORY AUTHORITY

• Safeguarding the Nation's Wealth! -

December 06, 2004

Enquiries: W.U. Kamburona

CIRCULAR LETTER: PI/MA/8/2004

TO: THE PRINCIPAL OFFICER OF ALL REGISTERED MEDICAL AID FUNDS

RE: LEVIES ON MEDICAL AID FUNDS

In terms of section 25 (1) of the Namibia Financial Institutions Supervisory Authority Act, (Act No.3 of 2001), all registered medical aid funds are required to pay levies to NAMFISA.

Kindly, be informed that the levies for the coming levy year (commencing April 01, 2005 to March 31, 2006) will remain unchanged; therefore, every registered fund as defined in section 1 of the Medical Aid Funds Act, (Act No. 23 of 1995) will be required to pay the following annual levies:

(a) Basic levy: N$2,000.00

(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 Voigt Branch (branch code No. 2772)

The Namibia Financial Institutions Supervisory Authority would like to take this opportunity to express our appreciation for the effort your respective funds have been making to honor the payment of the prescribed levies on time.

Your continued cooperation and support in this process will be greatly appreciated.

Should you have queries, please contact us at anytime.

Yours truly,

Marceline Geises Deputy Registrar (GM): Provident Institutions FOR REGISTRAR: MEDICAL AID FUNDS

• P.O. Box 21250 Windhoek NAMIBIA • 154 Independence Avenue • 8th Floor, Sanlam Centre • Tel: (+264 61) 290 5000 • Fax: (+264 61) 256303 • E-Mail: info@namfisa.com.na