DRAFT WORDING FOR ADVERTISEMENT
NOTICE OF TRANSFER OF NASHUA MOBILE POLICIES LINKED TO VODACOM SUBSCRIBERS, UNDERWRITTEN BY MUTUAL & FEDERAL RISK FINANCING LIMITED (“M&F”), TO VODACOM INSURANCE COMPANY (RF) LIMITED (“VODACOM INSURANCE”) IN TERMS OF SECTION 37 OF THE SHORT-TERM INSURANCE ACT, 53 OF 1998 (“the Act”).
Notice is given in terms of the Act, to all current policyholders of Nashua Mobile policies linked to Vodacom subscribers underwritten by M&F, to transfer all these policies to Vodacom Insurance in terms of the provisions of Part V of the Act (hereinafter referred to as the “Transfer Transaction”).
Details about the Transfer Transaction are contained in a transfer agreement entered into between Vodacom Insurance and M&F (“the Agreement”). The Agreement is subject to the fulfilment of suspensive conditions, which includes, amongst others, that the Transfer Transaction is approved by the Registrar of Short-term Insurance (“the Registrar”) in terms of Part V of the Act.
If the Transfer Transaction is approved by the Registrar, Vodacom Insurance shall be responsible for the fulfilment of all the obligations of M&F towards the policyholders of the transferred policies. From the date of the transfer, Vodacom Insurance will be responsible for the fulfilling of all the obligations M&F has in terms of the insurance policy. Until the insurance policy is transferred to Vodacom Insurance all benefits will be paid by M&F.
Copies of the Agreement as well as other documents required by the Registrar, shall be available for inspection for a period of 15 (fifteen) days commencing on 03 August 2015 to 17 August 2015 at M&F: 152 Bryanston Drive (Corner William Nicol), Bryanston, and Vodacom Insurance: 082 Vodacom Boulevard, Vodacom Valley, Midrand, 1685.
In terms of section 37(b) of the Act, any person who have interest in this matter may, within 15 (fifteen) days from the publication of this notice in the Government Gazette on 31 July 2015 submit to the Registrar such representation concerning the Transfer Transaction as are relevant to his / her / its interests.
M&F and Vodacom Insurance intend to apply to the Registrar on 14 September 2015 at Riverwalk Office Park, Block B, 41 Matroosberg Road (Corner Garstfontein and Matroosberg Roads), Ashlea Gardens x6, Menlo Park, Pretoria or as soon thereafter as the application may be heard for the approval by the Registrar of the Transfer Transaction.
In terms of section 37(d) of the Act, any party may file affidavits with the Registrar within the 15 (fifteen) days period, commencing on 03 August 2015 until 17 August 2015 and shall be entitled to appear before the Registrar on the abovementioned date.
Please direct all queries to M&F, Jacques Absil (011) 374 2950 or Jacques.Absil@mf.co.za or with Vodacom Insurance, Allistair Louis from Vodacom Insurance on 082 1952/011 8442800 or