Regulatory Alerts2015-04-20
Added · Updated
PI-MAF-DIR-01-2015 – 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 independent from the fund's administrator and any service providers rendering services to that administrator. Additionally, boards are required to determine principal officer remuneration based on qualifications and experience, maintain proper operational registers and records, and ensure the fund's affairs are managed to serve the best interests of the fund and its members.
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