Older Persons Act, 2006
R 385
Report 66 Business Practices Committee7. Recommendation |
The business practices of Omega constituted harmful business practices. There are no grounds justifying these practices in the public interest. It is accordingly recommended that the Minister under section 12(1)(b) of the Act declare unlawful the business practice by which anyone or more of the following persons, to wit:
Omega Trust, Omega Trust Power Marketing CC, Gerhardus Francois Janse van Rensburg (ID 600807 5038 007), Jan Frederick Olivier van Zyl (ID 590614 5091 008), and any member, employee, agent and/or representative of any of the aforementioned, in the course of the business of any of the aforesaid persons, directly or indirectly--
| a) | invites, procures the attendance or attempts to invite or to procure the attendance of any person to a meeting held by or on behalf of any of the aforesaid persons at which meeting such person (hereinafter referred to as the "participating person") is invited, encouraged or in any way enticed to enter into any arrangement with any of the aforesaid persons the terms whereof include any provision which have the effect that the participating person is obligated to make a payment of a financial consideration with the prospect of such participating person receiving payment or other money-related benefits, directly or indirectly, from his/her participation in the recruitment of other persons to enter into similar arrangements with any of the aforesaid persons; |
| b) | enters into any arrangement with any person the terms whereof includes any provision which has the effect that the participating person is obligated to make a payment of a financial consideration with the prospect of such participating person receiving payment or other money-related benefits, directly or indirectly, from his/her participation in the recruitment of other persons to enter into similar arrangements with any of the aforesaid persons. |
| c) | accept any financial consideration from any person in terms of any arrangement which financial consideration is used in part or in full to fulfil the obligations of either party to make payment to a third party who has entered into a similar arrangement with any of the aforesaid persons; and |
| d) | make any payment of any financial consideration or give any money-related benefit, directly or indirectly, to any person in terms of any arrangement as prohibited in terms of paragraph (b) or (c) above. |
Louise A Tager
Chairman: Business Practices Committee
11 February 1999
