Medical Schemes Act, 1998 (Act No. 131 of 1998)RegulationsRegulations in terms of the Medical Schemes ActChapter 6 : Administrators of medical schemes27. Ceasing, dissolution or liquidation of business |
| 1) | If an administrator ceases to conduct business, is dissolved, liquidated or the administrator’s accreditation has been withdrawn, the administrator’s auditor must furnish a report to the Registrar confirming— |
| a) | that all documents of title relating to assets, the assets register, minute books, computer records, data and other records pertaining to the medical scheme under administration have been delivered to the trustees of the medical scheme or the new administrators, as the case may be; |
| b) | the date and address of delivery contemplated in paragraph (a); and |
| c) | the name of the trustee or other person at the administrator to whom the documents referred to in paragraph (a) have been delivered. |
| 2) | If the auditor is for any reason unable to comply fully or partially with subregulation (1), the report must contain full particulars concerning the documents which have not been delivered, full reasons therefor as well as a plan with the dates on which compliance will take place to enable the Registrar to approve of such further period as may be determined by him or her. |