Insurance Second Amendment Act and the Demutualisation Levy Bill

Title: Insurance Second Amendment Act and the Demutualisation Levy Bill
Creator: COSATU
Subject: COSATU
Date Issued: Aug 1998
Date: Aug 1998
Type: text
Identifier: http://hdl.handle.net/10962/109835
Identifier: vital:33194
Description: COSATU has for many years been campaigning for the democratisation of the Mutuals in order to see to it that their considerable resources could be used more effectively in promoting economic development. In our 1996 Social Equity and Job Creation document COSATU, together with the other major trade union federations, argued that: "Mutual insurance companies such as Old Mutual and Sanlam are nominally controlled by policy-holders, but in practice are controlled by their managers. These companies control and manage large sums of provident fund contributions from workers yet grant no real ownership rights to workers". On this basis we proposed that: "Organised labour and other representatives of policy holders, be given immediate representation on the governing structures of the mutual companies, and that these companies be requested to commence negotiation through Nedlac on this proposal. Thereafter, appropriate legislative changes should be introduced through parliament."
Format: 3 pages
Format: pdf
Publisher: Congress of South African Trade Unions (COSATU)
Language: English
Rights: Congress of South African Trade Unions (COSATU)
Rights: No part of this publication may be reproduced or transmitted in any form or by any means without prior permission from the publisher

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