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Finance Standing Committee
SAA Quarterly Report, with Deputy Minister
7 Jun 2018
The Committee was briefed by the South African Airways (SAA) on its quarter four performance report in the presence of the Deputy Minister.
SAA Board Chairperson said liquidity and going-concern issues still persist. These issues continue to the extent that it was decided that an oversight committee, chaired by the ...
Finance Standing Committee
Carbon Tax Bill: Treasury response to submissions
7 Jun 2018
The Portfolio Committee on Environmental Affairs and the Standing Committee on Finance received a briefing from the National Treasury on its responses to the various comments from various stakeholders on the draft Carbon Tax Bill 2017. In addition, a number of the stakeholders, including a university professor, a non-governmental organisation ...
Finance Standing Committee
VBS Mutual Bank and Capitec follow-up meeting
30 May 2018
The Standing Committee on Finance met for a follow-up briefing on Capitec and VBS Mutual Bank. The South African Reserve Bank (SARB), National Treasury, the Financial Sector Conduct Authority (FSCA), the National Credit Regulator (NCR), and Capitec were in attendance and gave inputs.
Capitec explained that the bank had done its part ...
Standing Committee on Appropriations
Committee Report on Contract Extension of Parliament Budget Office Director
24 May 2018
The Standing and Select Committees on Finance and Appropriations met to consider and adopt the Report of the Contract Extension of Parliamentary Budget Office Director. Members were taken through processes surrounding this action. The proposal was that the contract of the Director be extended for three months after the 2019 ...
Finance Standing Committee
PIC Amendment Bill (Committee Bill): resolution; Mr Markus Jooste subpoena
22 May 2018
The Standing Committee on Finance met to consider a number of Committee issues. The Committee resolved the Public Investment Corporation Amendment Bill (Committee Bill) would begin to be processed and public hearings would be held. The Committee also endeavoured to process the Banks Amendment Bill (Private Member’s Bill: Mr Floyd ...
Finance Standing Committee
Financial Sector Regulation Act Regulations; National Treasury Budget: Committee Report
15 May 2018
The Standing Committee on Finance was briefed by the Financial Sector Conduct Authority (FSCA) on its transition from the Financial Services Board (FSB), as part of formal implementation of the Twin Peaks model of financial sector regulation, as envisaged in the Financial Sector Regulation Act (FSRA). Differences between the disbanded ...
Finance Standing Committee
IRBA Annual Report & high profile investigations of KPMG, Deloitte, Nkonki
9 May 2018
The Independent Regulatory Board for Auditors CEO highlighted that IRBA was globally respected and viewed as a leader in audit reform. IRBA was a founding member of IFIAR (International Forum of Independent Regulators) and its CEO was on the IFIAR Board and chaired the board audit committee. ...
Finance Standing Committee
National Treasury 2018/19 Annual Performance Plan; with Minister
8 May 2018
The Standing Committee on Finance was briefed by National Treasury on its 2018/19 Annual Performance Plans (APPs) in the presence of the Minister of Finance.
The Minister highlighted Treasury’s priorities over the coming year. Apart from being committed to driving faster economic growth and encouraging significant new investment in the ...
Finance Standing Committee
Illicit Tobacco Trade
2 May 2018
The Standing Committee on Finance on Wednesday was briefed by several bodies on illicit financial flows in the tobacco industry. Among the bodies which made presentations was the Tobacco Institute of South Africa (TISA), the Fair Trade Independent Tobacco Association (FITA), the Financial Intelligence Centre (FIC), National Treasury, the Directorate ...
Finance Standing Committee
Rates and Monetary Amounts and Amendment of Revenue Laws (“VAT”) Bill: briefing & public hearings; Davis Tax Committee
25 Apr 2018
The Standing Committee on Finance, jointly with the Select Committee on Finance, held public hearings on the Rates and Monetary Amounts and Amendment of Revenue Laws Bill.
National Treasury highlighted that the Rates Bill was published on Budget Day and dealt with key rate monetary threshold changes, and more complex ...