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Business Practices Committee Report 59

XB National Care Society

2. The complaint

 

 

The Committee received a complaint from the Office for Serious Economic Offences (OSEO) about XB National Care Society (Pty) Ltd (XB). The allegations were-

a) the policies issued by XB were not underwritten;
b) claims exceeding R200 000 were not paid by XB;
c) bank accounts of members of XB were debited on strength of debit orders signed in favour of another (liquidated) entity.

 

On 9 April 1996 the Committee decided, with the view to obtain more information to institute a preliminary investigation in terms of section 4 (1) (c) of the Harmful Business Practices Act, 1988 (Act No. 71 of 1988), into the business practice as applied by XB National Care Society (Pty) Ltd and any director, employee, agent, and/or representative of the aforementioned body corporate.

 


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