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NCOP Finance
Public Procurement Bill: National Treasury response to public submissions; Procurement & B-BBEE Statistics briefing
26 Apr 2024
The Select Committee on Finance convened virtually to discuss stakeholder submission on the Public Procurement (PP) Bill. National Treasury presented the input and its response.
In its submission to the Committee, Business Unity of South Africa (BUSA) claimed that there was evidence showing that of the public comments received ...
NCOP Appropriations
Division of Revenue Bill: Negotiating Mandates; Second Adjustments Appropriation (2023/24 FY) Bill & Gold and Foreign Exchange Contingency Reserve Account Defrayal A/B: Committee Reports
24 Apr 2024
The Committee met on a virtual platform to consider and adopt the negotiating mandates of the provinces for the 2024 Division of Revenue Bill. All provinces supported the Bill except the Western Cape. Limpopo did not have its mandate ready in time.
National Treasury provided some initial responses to ...
NCOP Finance
Public Procurement Bill: Civil Society concerns & constitutional matters
23 Apr 2024
Select Committee on Finance Response to Civil Society (awaited document)
The Select Committee on Finance deliberated on the concerns raised by civil society organisations about the constitutionality of the Public Procurement Bill and National Treasury’s (NT) responses to public submissions on the Bill.
First, civil society asserted that not ...
NCOP Finance
Pension Funds Amendment Bill: adoption
19 Apr 2024
The Select Committee on Finance considered and adopted the Pension Funds Amendment (PFA) Bill and the accompanying Committee Report.
The objective of the Bill is to amend the Pension Funds Act (PFA), of 1956, the Post and Telecommunications Related Matters Act (PTRMA), of 1958, the Transnet Pension Fund Act (TPFA), of ...
NCOP Finance
Public Procurement Bill: Treasury report-back on stakeholder consultation
17 Apr 2024
The Select Committee on Finance (NCOP) convened in a virtual meeting to hear National Treasury’s response to submissions from engagement with stakeholders on the Public Procurement Bill. National Treasury highlighted the key issues that needed to be shared with the Committee.
The Joint Strategic Resource (JSR) had submitted that ...
NCOP Finance
Pension Funds Amendment Bill: public hearings
16 Apr 2024
The Select Committee on Finance convened a public hearing on the Pension Fund Amendment Bill in a virtual meeting. The two-pot pension reform is to be introduced on 1 September 2024 through the recent amendments made to the Income Tax Act by the Revenue Laws Amendment Bill of 2023. ...
NCOP Appropriations
Division of Revenue Bill: Salga & PBO input
27 Mar 2024
The Select Committee received briefings in a virtual meeting from the South African Local Government Association (SALGA) and Parliamentary Budget Office (PBO) on the 2024 Division of Revenue Bill.
One of the main concerns raised by SALGA was that the local government sphere was underfunded, and was able to ...
NCOP Finance
Pension Funds Amendment Bill: National Treasury briefing
26 Mar 2024
The Select Committee on Finance met on a virtual platform for a briefing from National Treasury on the Pension Funds Amendment Bill.
The Pension Funds Amendment Bill was first published for public comments on 9 June 2023. The Bill introduced the “two-pot” retirement system intended to ensure the preservation ...
NCOP Finance
Revenue Laws Amendment Bill: adoption
25 Mar 2024
Report of the meeting to follow.
In this virtual meeting, the Committee convened to finalise the Revenue Laws Amendment Bill.
In this Bill, the government proposes implementing the “two-pot” retirement system to address the concerns related to lack of preservation before retirement and lack of access to retirement ...
NCOP Appropriations
Division of Revenue Bill; Second Adjustments Appropriation (2023/24 FY) Bill & GFECRA A/B: engagement with FFC
20 Mar 2024
The Select Committee on Appropriations convened in a virtual meeting to consult with the Financial and Fiscal Commission (FFC) on the Division of Revenue Bill, the Second Adjustments Appropriation Bill (2023/24 financial year), and the Gold and Foreign Exchange Contingency Reserve Account (GFECRA) Defrayal Amendment Bill.
The FFC said ...