What happened to all of the assets of CINTEC?
The decision to close down CINTEC was a legal decision, again made according to the same Act mentioned above. (Parliament Act no 27 of 2003). The Act demands the need to transfer all assets of CINTEC to ICTA. This transfer needs to be viewed as moving assets from one Government entity to another and not as transferring assets from a Government entity to a private company. ICTA has no interest or motivation to shutdown CINTEC or to acquire its assets and in fact when the said decision was passed in Parliament, ICTA was not even established. The staff of CINTEC recently filed a fundamental rights petition regarding their retirement scheme, and the Supreme Court has issued an injunction on the closure of CINTEC. This decision does not indicate that there is a change to the Parliament Act, but deals with the fundamental rights of the CINTEC staff.
