Business Practices Committee Report 59XB National Care Society2. 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.