In Reply to: Re: News from South Africa posted by Malvesating Morgans on 21 April 2004 at 20:04:39:
: Should that be the case, maybe we should be addressing a case of 'Dereliction of Duty' in the High Court on behalf of the Trust, or more precisely individual trust directors.
: From a member's point of view the trust is there to safeguard our interests and to inform us of the situation not be subservient to the demands of the corporation.
The choice of words and approach needs to differentiate. Some trustees are trustees because they have total sympathy with your sentiments and put themselves up to represent our interests but find now, with their new "inside knowledge" that they are effectively
emasculated when it comes to exercising any influence or control. It is the voting structure of the trustees that has caused this not every individual trustee. The
overdoing obligation to keep discussions secret further cramps their ability to give us the info we need to fight.
What I think we need to do is to establish whether any trustee feels that the procedures and processes followed by the board is so counter the interests of the members that he/she feels that they can with all due conscience whistleblow and generally inform perhaps through the press exactly what damage is being done to members interests by totally corporate controlled pension funds.