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Finance Standing Committee
South African Airways (SAA) on its Quarter 1 performance, with Minister
4 Aug 2017
The South African Airways (SAA) presented its quarterly report in the presence of the Minister of Finance, Mr Malusi Gigaba.
Minister Gigaba indicated that Mr Vuyani Jarana, an Executive at Vodacom, had been appointed as SAA CEO. The newly appointed CEO would need to be fully supported as he was ...
Finance Standing Committee
South African Reserve Bank briefing
1 Aug 2017
The South African Reserve Bank (SARB) presented its annual report, and indicated that financial stability and prudential monetary policymaking were key aspects of its mandate. Ensuring price stability or low inflation was a traditional function of central banks, but monetary policy could not entirely determine the long term growth potential ...
Finance Standing Committee
Money Bills Amendment Procedure and Related Matters Act
28 Jun 2017
The Constitutional and Legal Services Office took the joint committees through changes to the Money Bills Amendment Procedure and Related Matters Act, which were made after instructions received from the Joint Workshop held on 13 June 2017.
The main highlights of the input by Members were the Democratic Alliance’s concern ...
Finance Standing Committee
South African Airways (SAA) Quarterly Performance: briefing postponed
27 Jun 2017
The South African Airways (SAA) was expected to present its fourth quarter report before the Committee. However, the majority of Members expressed concern about the absence of SAA board members. Also, the Committee was dismayed by the quality of the SAA quarterly report which it could not process.
The majority ...
Health
National Public Health Institute of South Africa: Department of Health briefing
21 Jun 2017
The Department of Health (DoH) appeared before the Committee to present a proposal for a Bill which will empower the creation of a National Public Health Institute of South Africa (NAPHISA). The Bill was proposed for the Institute to coordinate, conduct disease and injury surveillance, provide specialised public health services, ...
Finance Standing Committee
Mandatory Rotation of Auditors & Transformation of Auditing Profession
21 Jun 2017
The Committee heard submissions on Mandatory Audit Firm Rotation (MAFR).
The South African Institute of Chartered Accountants (SAICA) did not believe MAFR was an answer to the challenges of transformation and audit independence. More investment in skills development was paramount. SAICA was convening a multi-stakeholder forum- a single reference point ...
Finance Standing Committee
Sugary Beverages Health Promotion Levy: Treasury response
21 Jun 2017
National Treasury presented its responses to submissions received on the Health Promotion Levy. The 2017 Draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill (Draft Rates Bill) was first released for public comment on 22 February 2017 which was Budget Speech Day. National Treasury and SARS briefed the ...
Finance Standing Committee
National Treasury & SARS on their Quarter 4 performance
20 Jun 2017
National Treasury took the Committee through a presentation on its fourth quarter expenditure and performance for the financial year 2016/17. The total quarter four budget amounted to R28.5 billion, with the bulk of it going towards revenue administration, financial intelligence and state security, and international financial relations. A variance of ...
Finance Standing Committee
Financial Sector Regulation "Twin Peaks" Bill: re-consideration
15 Jun 2017
The Finance Standing Committee convened urgently to look into re-considering the Financial Sector Regulation "Twin Peaks" Bill. This was an attempt to follow the necessary processes when adopting the bill.
Much of the meeting revolved around the detailed briefing by the Parliamentary Legal Adviser, in which he attempted to explain ...
Finance Standing Committee
Money Bills Amendment Procedure and Related Matters Act: workshop
13 Jun 2017
Constitutional and Legal Services Office took the committees through a presentation on the review of the Money Bills Amendment Procedure and Related Matters Act. He outlined the rationale for the sequencing of appropriations. The requirement that the Division of Revenue Bill (DORB) and the Appropriation Bill may only be referred ...