Politician Profile Page
Finance Standing Committee
Rates and Monetary Amounts and Amendment of Revenue Laws Bill; Financial Sector Regulation Bill schedules: deliberations; Financial Stability Board: role and mandate; BRRR
25 Oct 2016
The Committee firstly reviewed the Budgetary Review and Recommendations Report and went through the latest changes to the draft. Recommendations and observations by the Auditor-General on the performance of National Treasury were highlighted and concerns of some Members raised already were highlighted. The Members were reminded that SA Police Services, ...
Finance Standing Committee
PIC, Government Pension Administration Agency & GEPF on their 2015/16 Annual Reports, with Deputy Minister
18 Oct 2016
The Public Investment Corporation (PIC) noted its largest clients were the Government Employees Pension Fund (GEPF) and the Unemployment Insurance Fund (UIF). The PIC investment process emphasised rigorous governance interventions at various stages of the investment process. Net contributions by the top five clients were indicated. Key strategic objectives were ...
Finance Standing Committee
National Treasury & SARS on their 2015/16 Annual Reports with Auditor-General input
12 Oct 2016
The Auditor-General of South Africa (AGSA) presented its annual report on the audit outcomes for the finance portfolio. The overall outcome was impressive, although the AG identified problems areas such as material mistakes on financial statements, irregular spending and supply chain management concerns. The main recommendations given by the AG ...
Finance Standing Committee
Employment Tax Incentive and Learnership Incentive; Taxation Laws Amendment Bill and Tax Administration Laws Amendment Bill Workshop
11 Oct 2016
Documents: Draft Fourth Term Programme for the Standing Committee on Finance
Employment Tax Incentive
National Treasury briefed the Committee on the proposed extension of the Employment Tax Incentive (ETI). Treasury indicated that it had presented two options: a bare extension for two years or an extension coupled with a cap ...
Finance Standing Committee
Financial Sector Regulation Bill: deliberations on Schedule 4
22 Sep 2016
The Chairperson was accompanied by Sub-committee chairperson, Mr Sfiso Buthelezi, as the Chairperson would be away during part of the meeting. It was noted that the Sub-committee would be holding meetings to aid in going through this Bill.
National Treasury went through Schedule 4 until item 25. National Treasury said ...
Finance Standing Committee
Taxation Laws Amendment & Tax Administration Laws Amendment Bill: response to submissions; Revenue Laws Amendment Bill: update
21 Sep 2016
Introduction
The Chairperson noted his dissatisfaction with comments made by Mr D Maynier (DA) to the effect that the Financial Services Board and South African Revenue Service were being summonsed before the Committee. The Chairperson emphasised that regardless of Mr Maynier being a shadow Minister he had no more status ...
Finance Standing Committee
Progress report and preliminary financial results: South African Airways briefing, with Deputy Minister present
20 Sep 2016
The meeting involved a presentation by the board of South African Airways (SAA) to the Standing Committee on Finance (SCOF) followed by a question and response session including input from the National Treasury (NT). The presentation included a progress report and preliminary financial results for the 2014/2015 and 2015/2016 financial ...
Finance Standing Committee
Financial Sector Regulation Bill [B34-2015]: deliberations on Chapters 11-13, Chapter 1 definitions; Schedules 1-4
20 Sep 2016
The Chairperson reported to the Committee about a letter he had received from Mr Maynier of the Democratic Alliance regarding the SARS senior official being investigated whereby SARS Commissioner, Tom Moyane, when appearing before this committee on 14 September, had replied that the matter was confidential.
The Committee argued ...
Finance Standing Committee
Financial Sector Regulation “Twin Peaks” Bill: chapter 17
15 Sep 2016
The Committee continued its preliminary clause by clause deliberations on the Bill, covering chapter 17. During the deliberations, a lot of discussion was held in respect of clauses 242 and 243
Clause 242 dealt with Infomration sharing arrangments. A DA Member pointed out that the provision as it was had ...
Finance Standing Committee
Financial Sector Regulation “Twin Peaks” Bill [B34-2015]: chapters 14 & 15
14 Sep 2016
The Committee continued its preliminary clause by clause deliberations on the Financial Sector Regulation “Twin Peaks” Bill, covering clauses 211 to 237. The Committee considered the July version of the bill, while also reviewing the updates contained in the August version, with National Treasury regularly indicating changes and the final ...