Voorsitter, maatskappye is die enjins van enige moderne ekonomie en daarom is dit belangrik dat die wet wat hierdie entiteite reguleer, modern en prakties moet wees. Daar is lank aan hierdie wetsontwerp gewerk en die VF Plus dink dit is inderdaad progressief . (Translation of Afrikaans paragraph follows.)
[Adv A D ALBERTS: Chairperson, companies are the engines of any modern economy and it is therefore important for the Act that regulates entities to be a modern and practical one. A lot of work has gone into this Bill and the FF Plus believes it to be progressive indeed.]
It would be remiss of us not to commend the chairperson, Ms Joan Fubbs, for her meticulous and democratic approach to finalising this Bill. I also would like to thank the other members of the committee for their diligent work and assistance.
Having said this, let me say that it was disheartening that the ANC was not willing to accept four out of the six joint proposals made by the FF Plus, DA and IFP. The FF Plus is proud that it was able to resolve the problem relating to trading under insolvent circumstances, where the compromise proposal by the FF Plus was accepted, which eliminates the uncertainty created by the difference between technical and commercial insolvency. I dare say that the committee could likewise have accepted all proposals by the opposition in this spirit, especially given that our proposals were so few, and especially with regard to the so-called Yengeni clause, as the hon Harris indicated.
'n Kommerwekkende aspek aangaande die implementering van die wetgewing is dat ons glo die sakegemeenskap het meer tyd nodig om die nuwe veranderings te absorbeer. Daarom glo ons 'n uitstel van ses maande op die implementering sou van pas wees. Die Yengeni-klousule is ook hoogs problematies en die voorstel deur die "troika" van die VF Plus, DA en IFP moes aanvaar gewees het.
In die lig daarvan sal ons ongelukkig nie die wetsontwerp kan ondersteun nie. Dankie. (Translation of Afrikaans paragraphs follows.)
[A worrying aspect regarding the implementation of this legislation is that we believe the business community needs more time to absorb the new changes. That is why we believe that a six-month postponement of the implementation would have been appropriate. The Yengeni clause is also highly problematic and the proposal by the "troika" of the FF Plus, DA and IFP should have been adopted.
In light of this we unfortunately won't be able to support the Bill. Thank you.]