Regulatory Alerts2005-08-15
Added
Remuneration to Healthcare Consultants
The Namibia Financial Institutions Supervisory Authority repeals inconsistent previous directives and establishes registration requirements for healthcare consultants, including a N$500 application fee and mandatory proof of Grade 10 education and two years of experience. Fees for services are capped at 3% or a maximum of N$65 for open funds and N$45 for restricted or closed funds, with payments prohibited in advance and restricted to contractual agreements. The Registrar is granted powers to inspect consultant affairs and cancel registrations for non-compliance, with the directives entering into force on January 1, 2006.