The curatorship of Bosele National Provident Fund

February 12, 2018

 

On 8 February 2018, the Mahikeng High Court granted an application brought by the Registrar of Pension Funds in terms of section 5(1) of the Financial Institutions (Protection of Funds) Act, 2001 for the appointment of curators to the Bosele National Provident Fund. The court appointed Mr Malcolm Campbell and Mr Ntshengedzeni Anthony Michael Tshivhase as the joint curators of the Bosele National Provident Fund.

 

The application was brought pursuant to an onsite visit which exposed several serious irregularities pertaining to lack of good governance in the fund. The curatorship is intended to stabilise the management and operation of the fund, and to protect the interests of its members.

 

The curators are experienced professionals, who are well placed to fulfil the duties required of them as curators and to ensure that all necessary steps are taken to protect the interests of the fund and its members. 

 

The curators have assumed office as of today and their reports will be uploaded on the FSB website (https://www.fsb.co.za/Pages/CuratorReports.aspx) as they become available.

 

 

-Ends-

 

Enquiries:      Ms Tembisa Marele

                        Communications Specialist

                        Financial Services Board

                        Email address: Tembisa.Marele@fsb.co.za

                        Telephone: 012 428 8025

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