When will the provision of the Competition Act‚ Act 89 of 1998, as amended, which states that a person found guilty of an offence under the competition laws may be fined up to R500 000 or imprisoned for up to 10 years‚ be implemented?
Implementation of Section 13 of the Competition Amendment Act, 2009 (Act No1 of 2009) came into effect on the publication of the Proclamation in the Government Gazette on 9 June 2016.
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Whether any member of the Industrial Development Corporation’s executive team has ever (a) met with any (i) member, (ii) employee and/or (iii) close associate of the Gupta family and/or (b) attended any meeting with the specified family (i) at the Gupta’s Saxonwold estate or (ii) anywhere else since taking office; if not, what is the position in this regard; if so, in each specified case, (aa) what are the names of the persons who were present at each meeting, (bb)(aaa) when and (bbb) where did each specified meeting take place and (cc) what was the purpose of each specified meeting?
I have been furnished with a statement by the CEO of the Industrial Development Corporation, Mr Geoffrey Qhena, on the matters covered by the question.
The statement follows:
“It is common knowledge that the IDC has provided financial assistance to Oakbay Resources & Energy Limited. In the period leading up to the finalisation of negotiations regarding the transaction and in the normal course of ...
What (a) political and (b) commercial considerations led the Industrial Development Corporation (IDC) to strike a restructuring deal with a certain company at a reduced interest rate of prime plus 2% given that the specified company defaulted on its first R250 billion loan to the IDC?
I have been furnished with a statement by the CEO of the Industrial Development Corporation, Mr Geoffrey Qhena, on the matters covered by the question.
The statement by the IDC follows:
“(A) There were no political considerations associated with the restructure;
(B) The restructuring was done purely on commercial terms as set out below;
(C) Point of correction – the amount is R250 million ...
With regard to the proposed merger of the soft-drink bottling operations of certain companies, did he share documents supplied to him by the Competition Commission with his expert witness, before the specified expert witness had signed confidentiality agreements; if not, what is the position in this regards; if so , why?
I am advised that the government expert witness signed the requisite confidentiality agreement supplied to him by government lawyers prior to gaining access to confidential information.
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(a) What amount did (i) his department and (ii) each entity reporting to him spend on advertising in the 2015-16 financial year and (b) how much has (i) his department and (ii) each entity reporting to him budgeted for advertising in the 2016-17 financial year?
(a) Details of spending for the department and its entities for the 2015/16 financial year will be available once audited, and included in the 2015/16 annual reports to be tabled in parliament during 2016.
(b) Below is the department’s and entities budgeted advertising spending for the 2016/17 financial year:
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Department /Entity
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2016/17 Advertising budget
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Economic Development Department
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R 5 124 000.00
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IDC
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R 23 000 000.00 ... |
(1) Whether his department was approached by any political party for any form of funding (a) in the (i) 2013-14, (ii) 2014-15 and (iii) 2015-16 financial years and (b) since 1 April 2016; if so, what are the relevant details in each case; (2) whether his department provided any form of funding to any political party (a) in the (i) 2013-14, (ii) 2014-15 and (iii) 2015-16 financial years and (b) since 1 April 2016; if not, what is the position in this regard; if so, what are the relevant details in each case?
Whether (a) his department and (b) all entities reporting to him are running development programmes for (i) small businesses and (ii) co-operatives; if not, why not; if so, in each case, (aa) what are the relevant details, (bb) what amount has been budgeted and (cc) how many jobs will be created through the specified development programmes in the 2016-17 financial year?
(a) Economic Development Department
The Economic Development Department (EDD) has from time to time supported different initiatives initiated through the IDC, sefa, and other departments such as Department of Small Business Development and Trade and Industry.
1. EDD, jointly with the IDC manages the Agro Processing Competitive Fund (APCF) which support small agro-processing businesses and corporates
Funding to R250 million was made available by ...
What alternative measures to avert price-fixing will he put in place, in view of the exorbitant prices for motor vehicles in the country, allegedly due to the monopoly held by a few individuals around the globe who control such prices and in view of the depreciation of new motor vehicles as soon as they leave the showroom floor with a further loss of value two years after the purchase date?
Has (a) he and/or (b) his Deputy Minister ever (i) met with any (aa) member, (bb) employee and/or (cc) close associate of the Gupta family and/or (ii) attended any meeting with the specified persons (aa) at the Gupta’s Saxonwold Estate in Johannesburg or (bb) anywhere else since taking office; if not, what is the position in this regard; if so, in each specified case, (aaa) what are the names of the persons who were present at each meeting, (bbb)(aaaa) when and (bbbb) where did each such meeting take place and (ccc) what was the purpose of each specified meeting?
(1)Has he earned any additional income from businesses, in particular businesses doing work for the Government, since his appointment as Minister; if so, (a) when, (b) how much did he earn, (c) from which businesses and (d) for what work;
(2) whether his (a) spouse, (b) children and (c) close family earned income from businesses, in particular businesses doing work for the Government, through his appointment as Minister; if so, in respect of each case, (i) when, (ii) how much did each earn, (iii) from which businesses and (iv) for what work?
