Hon Chair, I move without notice on behalf of Cope:
That the Council -
1) notes with grave concern that there are employers in South Africa who are deducting retirement contributions from their employees' pay packages but who are not paying the money into the appropriate holding funds;
2) further notes that in the past the non payment of contributions was a criminal offence but that with the establishment of a financial services enforcement committee this had fallen away; and
3) therefore calls on the Financial Services Board to name and shame such employers and request the regulator to begin to impose a severe penalty on errant employers through its enforcement committee.
Motion agreed to in accordance with section 65 of the Constitution.