Politician Profile Page
Finance Standing Committee
Financial Sector Regulation “Twin Peaks” Bill: deliberations
6 Sep 2016
The Department of Treasury, the Reserve Bank, and the Financial Services Board deliberated with committee members on the Financial Sector Regulation Bill. Starting from Chapter nine, the deliberations centred on legal professional privilege, on-site inspections, change of ‘designated authority’ to ‘the responsible authority,’ rational exercise of discretion by the responsible ...
Finance Standing Committee
Money Bills Amendment Procedure Act review; Financial Sector Regulation 'Twin Peaks' Bill: deliberations
2 Sep 2016
The Senior Parliamentary Legal Advisor made a presentation on the forthcoming review of the Money Bills Amendment Procedure and Related Matters Act. Aspects were highlighted including the role, independence and constitution of the Parliamentary Budget Office; peremptory norms for provincial legislatures; and the timeframes around the budget process. The briefing ...
Standing Committee on Appropriations
Cost & outcomes of Industrial Development initiatives: Parliamentary Budget Office briefing
31 Aug 2016
The Parliamentary Budget Office (PBO) briefed the Standing Committee on Appropriations with a report on the costs and outcomes of industrial development initiatives for the period from 1994 to 2015.
The PBO provided an analysis of the government’s commitment to industrial development, the development of policies, and also the development ...
Finance Standing Committee
Rates and Monetary Amounts and Amendment of Revenue Laws Bill: public hearings
30 Aug 2016
The submission by the Recycling and Economic Development Initiative of South Africa (REDISA) focused on the possible effects of the environmental levy on tyres at R2.30/kg of tyre as proposed by the National Treasury. Speakers from REDISA highlighted that the change proposed would halt a significant portion of the funds ...
Finance Standing Committee
Financial Sector Regulation “Twin Peaks” Bill [B34-2015]: deliberations
25 Aug 2016
The Committee continued it preliminary clause by clause reading of the Financial Sector Regulation Bill, major points included:
Clause 45-47
Here the Committee sought clarity on the role of the CEO regarding the keeping of minutes under clause 45. It rejected the Banking Association of South Africa’s submission on clause ...
Finance Standing Committee
Financial Sector Regulation Bill [B 34-2015]: deliberations on clauses 7 to 44
24 Aug 2016
The Committee met with National Treasury, the South African Reserve Bank and FSB to discuss the new working draft of the Financial Sector Regulation Bill. The Committee worked through clauses 7 to 44 of the July working draft of the Bill examining and approving the amendments that had been made ...
Finance Standing Committee
SARS on its Quarterly Report & Annual Performance Plan
23 Aug 2016
Documents Awaited : SARS Strategic Plan 2016/17 – 2020/21; SARS Annual Performance Plan 2016 - 2017 [email info@pmg.org.za]
The Committee was briefed by the South African Revenue Services (SARS) on its Strategic Plan for 2016/17 – 2020/21, with the SARS Commissioner in attendance. It was noted that SARS had continued to excel ...
Finance Standing Committee
Financial Sector Regulation “Twin Peaks” Bill [B34-2015]: deliberations
17 Aug 2016
The afternoon session opened with a continuation of a discussion on the National Credit Regulator in relation to the Bill before the Committee.
The meeting then moved onto a consideration of the financial impact of the Bill. Members were concerned about the costs being transferred from the financial institutions onto ...
Finance Standing Committee
Financial Sector Regulation Bill [B34-2015]: discussion & Draft Taxation Laws Amendment Bill: National Treasury on comments received
17 Aug 2016
National Treasury presented the revised version of the Tax Bill, and took the Committee through the amended clauses of the Financial Sector Regulation Bill.
National Treasury said that the special VDP (Voluntary Disclosure Programme) would commence next year on an international spectrum and this would give SARS an insight of ...
Finance Standing Committee
Illicit Financial Flows, Base Erosion & Profit Sharing, Panama Papers: Treasury, SARB, Financial Intelligence Centre, SARS inputs
25 May 2016
This was a joint meeting with the Portfolio Committees of Trade and Industry and Mineral Resources.
National Treasury introduced the presentations. On illicit flows, the difficulty was hard evidence. The media put out a lot of information but it would be helpful if people went directly to the authorities with ...