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NCOP Finance
Financial Sector Regulation Bill [B34-2015]: National Treasury briefing
24 Aug 2016
The National Treasury briefed the Committee on the Twin Peaks: The Financial Sector Regulation (FSR) Bill. It noted that the shift to twin peaks started in 2011, when “a safer financial sector to serve South African better” policy paper was approved by the Cabinet. In 2013, the road map of ...
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 ...
NCOP Finance
KwaZulu-Natal on its 2015/16 unaudited Annual Report; Land Bank board appointments: deliberations
16 Aug 2016
The National Treasury made a presentation to the Committee on the provincial budgets and expenditure for KwaZulu-Natal (KZN) for the third and fourth quarters of the 2015/16 financial year. Newly identified schools and clinics had put pressure on the Public Works budget, as they had not been budgeted for. Due ...
NCOP Appropriations
Appropriation Bill: briefing & adoption; Committee Report on Municipal Infrastructure Grant rollovers
24 May 2016
The National Treasury noted that expenditure ceilings for the two outer years of the 2016 Medium Term Expenditure Framework (MTEF) period were reduced. Expenditure baselines were growing at the rate of 7.5% over the 2016 MTEF period. There was a drawdown on the contingency reserve within the expenditure ceiling. The ...
NCOP Finance
Financial Intelligence Centre Amendment Bill [B33-15]: briefing ; North West Provincial Treasury on its 3rd & 4th 2015/16 Quarter performance
20 May 2016
National Treasury gave the briefing on the Financial Intelligence Amendment Bill. The rationale for the Amendment Bill was to address challenges related to money laundering and corruption and to comply with the United Nations Convention against Corruption. Members felt that the Bill was needed but expressed their concern about its ...
NCOP Finance
Eastern Cape, Limpopo & Northern Cape Provincial Treasuries on their 3rd & 4th Quarter 2015/16 performance
18 May 2016
National Treasury presented the aggregated budgets and expenditure for the provinces of Limpopo, Eastern Cape and the Northern Cape, with a focus on overspending and underspending. A summary of key conclusions and financial risks over the 2016 MTEF showed that the Eastern Cape and Limpopo had tabled surplus budgets for ...
NCOP Appropriations
Municipal Infrastructure Grant rollovers for the past 5 financial years: hearings with National Treasury
17 May 2016
The National Treasury briefed the Committee on the Municipal Infrastructure Grant (MIG) roll-overs for the past five financial years (2011-2016). It was highlighted that the Eastern Cape, KwaZulu-Natal and Limpopo had received the highest MIG allocations in the 2010/11 to 2014/15 financial years, while Gauteng, Northern Cape and Western Cape ...
NCOP Appropriations
Western Cape Municipal Infrastructure Grant (MIG) performance
10 May 2016
The Committee was taken through the performance record of Municipal Infrastructure Grant (MIG) expenditure by the Western Cape provincial government for the preceding five years. Situational analysis for the second quarter indicated that 6 municipalities were above 50%; 11 were between 40 and 50%, 4 were between 30 and 40%, ...
NCOP Appropriations
Division of Revenue Bill [B2-2016]: public hearings
12 Apr 2016
The SALGA submission stated that there had to be increased accountability and consequences for management of limited resources by local government. Within the context of decreased allocations, SALGA argued for protection of allocations to poor and rural municipalities. The serious decline in the Municipal Systems Improvement Grant was cause for ...
NCOP Appropriations
Provincial conditional grants 3rd quarter 2015 performance: National Treasury briefing
5 Apr 2016
National Treasury provided the expenditure figures for each of the nine provinces. The required norm is 75% spent by the end of the third quarter. Percentages fell short of the required percentage in many instances. Grants where underspending was most prevalent were Agriculture; Arts and Culture; Social Development, and the ...