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Committee Report on Banks Amendment Bill
14 May 2015
The Select Committee on Finance considered the report on the Banks Amendment Bill. The Bill was previously agreed to by the Standing Committee on Finance and was officially referred to the Select Committee on Finance by the National Assembly in the previous week.
The Committee adopted the report on the ...
Treasury said that local government and provinces were entitled to the equitable share to provide basic services and perform prescribed functions. Budgetary conditions were set as well others requirements to ensure the money was used as allocated. There were controls over how the money was spent based on ...
National Treasury presented a briefing on the Auditing Profession Amendment Bill. Auditors were regulated by the Independent Regulatory Board for Auditors (IRBA), whose primary objective was to protect the public through the regulation of the auditing profession. The objects of the Amendment Bill were to provide for the regulation of ...
The Committee met to adopt its Draft Report on the Defence Review. A DA Member had submitted a document, at a previous meeting, in which he set out 21 suggestions on the Defence Review, which had been circulated to and read by all Committee Members. Mr Maynier was given the ...
National Treasury briefings: Tax treaties & double-taxation agreements with Cameroon, Qatar, Hong Kong, Lesotho, Cyprus; Exchange Information agreement with Grenada; BRICS New Development Bank & Contingent Reserve Arrangement
28 Apr 2015
National Treasury briefed the Committee on the purpose and effect of tax treaties, protocols and double taxation agreements in general, pointing out where these were authorised by the Constitution, what the requirements were, particularly the requirement that they be ratified by Parliament, and how any tax treaties so adopted were ...
Division of Revenue Bill [B5-2015] negotiating mandates: National Treasury response; Final mandates
28 Apr 2015
National Treasury responded to comment and recommendations made by Eastern Cape, Free State, Gauteng, Limpopo and Mpumalanga Negotiating Mandates.
In the discussion that followed, Members suggested that perhaps provincial legislatures needed to meet with the Financial Fiscal Commission more than once a year. There seemed to be divergent views amongst ...
Minister of Finance update on Termination of Limpopo Province Section 100(1)(b) Intervention
22 Apr 2015
The Minister of Finance and the Chief Administrator briefed the Committee on issues contained in the Select Committee Report on the Section 100(1) Intervention in Limpopo Province. The purpose of the briefing was to provide feedback about the Committee’s observations. The importance of making the distinction between section 100(1)(b) and ...
Division of Revenue Bill [B5-2015]: Treasury response to submissions; negotiating mandates
21 Apr 2015
The Committee considered responses by National Treasury to submissions on the Division of Revenue Bill. Members were encouraged to comment on the responses given. Concern was raised about the practice of National Treasury to withhold funds from municipalities that were not paying creditors such as Eskom and water boards. The ...
Constitutional Review Committee
Election of co-chairpersons
26 Mar 2015
The Committee elected Mr Vincent Smith as the Co-Chairperson of the National Assembly component of the Joint Committee on Constitutional Review and Mr Lewis Nzimande as the Co-Chairperson of the National Council of Provinces component of the Committee.
Finance Standing Committee
Committee Report on Fiscal Framework and Revenue Proposals: consideration and adoption
5 Mar 2015
The Standing Committee and Select Committees on Finance adopted the draft report on the Fiscal Framework and Revenue Proposals relating to the 2015 Budget. The draft report was adopted with amendments. The amendment related to tightening and rewording recommendation 4.18 that proposed centralised procurement. Members also agreed that a new ...