Madam Chair, we welcome the South African Postbank Bill with the fervent hope that it shall not suffer the same demise that has befallen other state-owned enterprises. We hope that South Africa will finally set up a banking service that will service the poor and those with low incomes, in particular.
It is, however, not clear why there is a provision that allows the new Postbank to operate as a company before it complies with the Banks Act. It is imperative that, as we establish such entities, we also insist on uncompromising adherence to existing legislation. The UCDP accepts the Bill. Thank you. [Applause.]