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Finance Standing Committee
PIC Amendment Bills: hearings
15 Aug 2018
The Committee held public hearings on the two Public Investment Corporation (PIC) Bills. The Public Servants Association (PSA), the Public Service Collective Bargaining Council (PSCBC) and AmaBhungane Centre for Investigative Journalism made oral submissions.
The PSA opposed the provision that would require the PIC to consider certain matters when exercising ...
Finance Standing Committee
South African Reserve Bank (SARB) Annual Report
15 Aug 2018
Government Departments & Entities 2016/17 Annual Reports
The Standing Committee on Finance met with the South African Reserve Bank (SARB) for a briefing on their annual report and related issues.
SARB, in presenting, highlighted the macroeconomic overview and outlook. Global growth is accelerating but risks were also rising. During the second ...
Finance Standing Committee
World Bank Report: An Incomplete Transition: Overcoming the Legacy of Exclusion in South Africa
14 Aug 2018
The Committee met with the World Bank for a presentation of South Africa’s Systematic Country Diagnostic, based on the latter’s Report entitled: “An Incomplete Transition: Overcoming the Legacy of Exclusion in South Africa”.
The World Bank noted that South Africa’s transition remained incomplete as the legacy of exclusion persists, in ...
Finance Standing Committee
VBS Mutual Bank and Capitec follow-up meeting
30 May 2018
The Standing Committee on Finance met for a follow-up briefing on Capitec and VBS Mutual Bank. The South African Reserve Bank (SARB), National Treasury, the Financial Sector Conduct Authority (FSCA), the National Credit Regulator (NCR), and Capitec were in attendance and gave inputs.
Capitec explained that the bank had done its part ...
Finance Standing Committee
SARS on Makwakwa matter; KPMG Report; 2017/18 revenue; Steinhoff; Illicit Financial Flows; Illicit Tobacco Trade
23 May 2018
The Standing Committee on Finance held a follow-up meeting with the South African Revenue Services (Sars) on the Jonas Makwakwa matter, KPMG report, revenue raised in 2017/18, as well as illicit financial flows (IFFs) and the illicit tobacco trade. National Treasury and Hogan Lovells South Africa were also in attendance. ...
Finance Standing Committee
PIC Amendment Bill (Committee Bill): resolution; Mr Markus Jooste subpoena
22 May 2018
The Standing Committee on Finance met to consider a number of Committee issues. The Committee resolved the Public Investment Corporation Amendment Bill (Committee Bill) would begin to be processed and public hearings would be held. The Committee also endeavoured to process the Banks Amendment Bill (Private Member’s Bill: Mr Floyd ...
Finance Standing Committee
SAA latest quarterly report (meeting postponed)
16 May 2018
A briefing by South African Airways (SAA) to the Standing Committee was called off after Members from the ANC and DA disputed whether a decision was taken to close the meeting by the Committee at its previous engagement with SAA – this was so that SAA could provide finer details ...
Finance Standing Committee
Financial Sector Regulation Act Regulations; National Treasury Budget: Committee Report
15 May 2018
The Standing Committee on Finance was briefed by the Financial Sector Conduct Authority (FSCA) on its transition from the Financial Services Board (FSB), as part of formal implementation of the Twin Peaks model of financial sector regulation, as envisaged in the Financial Sector Regulation Act (FSRA). Differences between the disbanded ...
Finance Standing Committee
IRBA Annual Report & high profile investigations of KPMG, Deloitte, Nkonki
9 May 2018
The Independent Regulatory Board for Auditors CEO highlighted that IRBA was globally respected and viewed as a leader in audit reform. IRBA was a founding member of IFIAR (International Forum of Independent Regulators) and its CEO was on the IFIAR Board and chaired the board audit committee. ...
Finance Standing Committee
National Treasury 2018/19 Annual Performance Plan; with Minister
8 May 2018
The Standing Committee on Finance was briefed by National Treasury on its 2018/19 Annual Performance Plans (APPs) in the presence of the Minister of Finance.
The Minister highlighted Treasury’s priorities over the coming year. Apart from being committed to driving faster economic growth and encouraging significant new investment in the ...