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Finance Standing Committee
National Treasury on its 4th quarter 2014/15 performance
12 May 2015
National Treasury presented its quarterly report on spending for 2014/15. Treasury contributed to the government outcome of creating a better South Africa and a better Africa by participating in the creation of the BRICS New Development Bank; working with the Department of International Relations, and sitting on the board of ...
Finance Standing Committee
Committee Reports on National Treasury, SARS & Statistics South Africa budgets
5 May 2015
Observations and recommendations in the report on Statistics South Africa’s Strategic Plan and Annual Performance Plan were presented individually by the Chairperson for Members to consider. The report as a whole was adopted.
Recommendations in the report on the National Treasury and South African Revenue Services Strategic and Annual Performance ...
Finance Standing Committee
Statistics South on its Annual Performance and Strategic Plan 2015/16
29 Apr 2015
The Standing Committee on Finance received a briefing from Statistics South Africa (Stats SA) on its Annual Performance Plan (APP) and Strategic Plan for 2015/16. The Statistician-General highlighted figures in regard to employment, noting an increase from the previous quarter, and highlighted the particular figures in relation to the formal ...
Finance Standing Committee
Banks Amendment Bill & Financial & Fiscal Commission Amendment Bill: Adoption and Committee Report; BRICS ; New Development Bank and Contingent Reserve Arrangement: National Treasury briefing; Money Bills Amendment Procedure and Related Matters Act review: Parliamentary Legal Services briefing
28 Apr 2015
The amended clauses for the Banks Amendment Bill were presented and Members adopted the Bill as a whole, after approving those. The Committee also adopted the Committee report, which expressed the hope that the commercial process running parallel to the legislative process would be concluded with an amicable resolution between ...
Finance Standing Committee
Banks Amendment Bill B17-2014; Financial & Fiscal Commission Amendment Bill [B1-2015]: deliberations
22 Apr 2015
The Committee deliberated on the Banks Amendment Bill [B17-2014] and the Financial and Fiscal Commission Amendment Bill [B1-2015]
Banks Amendment Bill
The Committee wanted to know from the Deputy Governor of the South African Reserve Bank (SARB), in broad terms, where the African Bank matter stood. Secondly, members raised concern ...
Finance Standing Committee
Banks Amendment Bill: input from Banking Association of SA; Bill's constitutionality; SARS alleged rogue unit & Sikhakane Commission: update
21 Apr 2015
The Banking Association of South Africa (BASA) made a further submission on the Banks Amendment Bill. BASA was not involved in the curatorship of the African Bank, but supported the Banks Amendment Bill. BASA engaged in debates about regulatory frameworks. The 2008 G20 declaration was aimed at reforming the global ...
Finance Standing Committee
SARS on Sikhakane Report; Tier ll Debt; Banks Amendment Bill: consideration of further submissions
25 Mar 2015
The South African Revenue Service (SARS) briefed the Committee on the Sikhakhane report and said that the report was preliminary in nature. It sought to highlight challenges that had been in the public domain about allegations of the existence of a “rogue unit” within SARS, amongst others.
The Memorandum of ...
Finance Standing Committee
Banks Amendment Bill [B17-2014]: National Treasury response to public submissions Day 2
18 Mar 2015
The deliberations covered four major themes raised by the public submissions and a general concern raised by Members on urgency of the Bill and its interface with the ‘Twin Peaks’ resolution legislation.
Creditor Protection
The submissions argued that the Bill provides a wide discretion to the curator and Minister to ...
Finance Standing Committee
Banks Amendment Bill [B17-2014]: Treasury response to submissions
17 Mar 2015
The National Treasury (NT) reported back on submissions received for the Banks Amendment Bill. Most stakeholders agreed with the need for a Bill, even if they differed on the approach. It was to be expected that stakeholders would attempt to elevate their own interestests above those of other stakeholders. It ...
Finance Standing Committee
Fiscal Framework and Revenue Proposals: public hearings
4 Mar 2015
The Standing Committee on Finance and the Select Committee on Finance held a joint meeting to hear public comment by various institutions and labour federations on the Fiscal Framework and Revenue Proposals.
The South African Institute of Chartered Accountants (SAICA) commended the Finance Minister and his National Treasury team for ...