Housing Development Agency Act, 2008
R 385
Business Practices Committee Report 80Propalux 46 Ltd11. Recommendation |
Whether the business practices of Propalux and the directors Tabile Patricia Gumbi, Ntseuwa Elizaberth Liratsagae, Selope Alfred Maeda, William Motsama Mashinini, Noliqhwa Nancy Masipa, Nompumelelo Ester Matewane, Lucky Motlalepula Mthombeni, Mamange Dinah Mofokeng, Mothibi Elias Mogoera, Lefu Daniel Moloi, Samueal Letlakana Mosoge, Motshudi Jocobeth Sealanyahe, Nkuba Salaminah Thabe, Daniel Tjelele, Maditlhare Josephine Theletsane were devised or whether it came about by accident, they constitute unfair business practices. There are no grounds justifying the practices in the public interest.
The Committee therefore recommends that the Minister under section 12(1)(b) of the Act, declare unlawful the business practice whereby Propalux 46 Limited and the directors Tabile Patricia Gumbi, Ntseuwa Elizaberth Liratsagae, Selope Alfred Maeda, William Motsama Mashinini, Noliqhwa Nancy Masipa, Nompumelelo Ester Matewane, Lucky Motlalepula Mthombeni, Mamange Dinah Mofokeng, Mothibi Elias Mogoera, Lefu Daniel Moloi, Samueal Letlakana Mosoge, Motshudi Jocobeth Sealanyahe,, Nkuba Salaminah Thabe, Daniel Tjelele, Maditlhare Josephine Theletsane, directly or indirectly:
| a) | invite any persons to advance loans or take up shares in any business in which they have a direct or Indirect interest, and/or |
| b) | accept appointments as employees or directors in companies or close corporations in which they are shareholders or members and/or |
| c) | invite any persons to make investments In companies or close corporations in which they are shareholders or members |
| d) | pay interest to previous investors from monies obtained from more recent investors. |
The Committee further recommends that the Minister, in terms of section 12(1)(d) of the Act, appoint a curator, in order to realize the assets which the investigating officials are aware of, of Lucky Motlalepula Mthombeni, Propalux 46 Ltd (97/05827/06), Sekheleng Propalux (99/20003/07) L Mthombeni and Associates (Pty) Ltd (99/20004107) and LM Fibas Padec Estate (Pty) Ltd, and to distribute them between the investors concerned and to take control of or manage the whole or any part of the relevant businesses.
Prof T A Woker
Vice-Chairperson: Consumer Affairs Committe
23 June 2000
