Business Practices Committee Report 80Propalux 46 LtdNotice 3431 of 2000 |
Department of Trade and Industry
Consumer Affairs (Unfair Business Practices) Act, 1988
I, Alexander Erwin, Minister of Trade and Industry, after having considered a report by the Consumer Affairs Committee in relation to an investigation of which notice was given in Notice 1271 of 2000 published in Government Gazelle No. 20994 of 24 March 2000, which report was published in Notice 3430 in Government Gazette No. 21611 of 29 September 2000, and being of the opinion that an unfair business practice exists which is not justified in the public interest, do hereby exercise my powers in terms of section 12(1)(b) and (c) of the Consumer Affairs (Unfair Business Practices) Act, 1988 (Act No. 71 of 1988), as set out in the Schedule.
A Erwin
Minister of Trade and Industry
In this notice, unless the context indicates otherwise-
"unfair business practice" means the business practice whereby the parties, in the course of business, 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 and/or |
| d) | pay interest to previous investors from monies obtained from more recent investors. |
"the parties" means Propalux 46 Limited and the directors Tabile Patricia Gumbi, Ntseawa Elizabeth 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 and Maditlhare Josephine Theletsane.
| 1) | The unfair business practice(s) is hereby declared unlawful in respect of the parties. |
| 2) | The parties are hereby directed to- |
| a) | refrain from applying the unfair business practice; |
| b) | cease to have any interest in a business or type of business which applies the unfair business practice or to derive any income therefrom; and |
| c) | refrain from at any time applying the unfair business practice. |
| 3) | This notice shall come into operation upon the date of publication hereof. |