Medibank Private Member contributors are the beneficial owners of the 'Fund' and must receive shares and or compensation from its effective demutualisation!
This petition had 5,152 supporters
We applied for membership and Medibank Private have always called us members, furthermore Medibank have recognised our beneficial ownership of the 'Fund' in various letters, annual reports and marketing materials since Medibanks inception. The Medibank sale must recognise members per previous demutualisations of health fund NIB , NRMA Insurance etc etc. in both these demutualisations members/ policyholders received many many shares In exchange for their beneficial ownership and loyalty. Medibank Private members will not be deceived or mislead any longer and moreover will not tolerate being robbed of benefits from their loyal membership to and beneficial ownership in Medibank Private 'Fund' , which is still rightfully beneficially owned by the members despite the worst legalistic treachery this country has seen from its Commonwealth governments!
Please sign this petition to demonstrate members will not accept the sale of 'our' company and their beneficial equity without benefit to us loyal members, including but not limited to distribution of members equity. After all, in 1988 then Chairman of the Health Insurance Commission (Medibank Private and its members Custodians) Mr Fred Millar wrote in the annual report;
"Medibank Private is a non-profit organisation based solely on its contributors’ funds. The Government has no financial interest in Medibank Private’s assets and reserves. Medibank Private’s assets and reserves are the property of its contributors"
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