Regulatory Alerts2015-04-20
Added
Directive PI/MAF/DIR/01/2015 on Medical Aid Fund Operations
This directive revokes Circular letter no. 6 of 2002 and imposes immediate requirements on the boards of trustees of all registered medical aid funds. Boards must appoint only suitable principal officers who are prohibited from holding positions with the fund's administrator or its service providers. Additionally, principal officer remuneration must be determined by the board based on qualifications and experience, while boards must maintain proper records and manage fund affairs to serve the best interests of the fund and its members.
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