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Medical scheme rules may have no application if they fail to fulfil statutory law. The relationship between medical schemes and their members is not only governed by the medical scheme rules but primarily by obligations imposed by statute. The public policy considerations taken into account in the Medical Schemes Act which give rise to prescribed minimum benefits (PMBs) means that the medical scheme rules must adequately cater for PMBs or those rules face the possibility…
A commercial agreement should not lightly be determined unenforceable simply because the parties set out the terms in an unclear manner. The Supreme Court of Appeal, in Novartis v Maphil, dealt with whether a pharmaceutical drug manufacturer and a medical device supplier had concluded a contract. The court had to consider written documents, oral agreements and emails in the light of the principles of contractual interpretation which can be summarised as follows: Written words…
The amended JSE debt listings requirements come into operation on 22 December 2014. They aim to bring the JSE debt listings requirements in line with the Financial Markets Act, 2012 that came into force in 2013. The authority of the JSE, including its general powers over listing debt securities such as bonds and commercial paper, remain largely in place. But there are a number of developments to the listings requirements including those concerning the appointment…