Politician Profile Page
Finance Standing Committee
2017 Budget: public hearings
1 Mar 2017
The joint Committee meeting entailed presentations from various firms and organisations on the 2017/18 budget. All delegates expressed concern about government spending and many said that the heavy reliance on direct, personal and corporate tax was unsustainable. COSATU and NEHAWU were unhappy with the lack of a clear plan to ...
Finance Standing Committee
Budget 2017: Parliamentary Budget Office & Financial and Fiscal Commission briefing
28 Feb 2017
A joint sitting of the Standing Committee of Appropriations, Select Committee on Appropriations, Standing Committee on Finance and Select Committee on Finance met to receive briefings from the Parliamentary Budget Office (PBO) and the Financial and Fiscal Commission (FFC) on the 2017 budget.
The Budget Office said the 2017 budget ...
Finance Standing Committee
FICA Bill and Committee Report: adoption
21 Feb 2017
The meeting began with deliberations on the Committee Report on the referral of the Financial Intelligence Centre Amendment Bill [B 33B–2015]. This report contains the Committee’s conclusions regarding comments from the President on the Financial Intelligence Centre Amendment Bill.
There were no further changes to the Committee proposed amendments to ...
Finance Standing Committee
Budget 2017: pre-budget briefing by Parliamentary Budget Office
21 Feb 2017
A pre-budget briefing was given to the four finance committees by the Parliamentary Budget Office (PBO). The presentation highlighted lower-than-expected revenues as a key challenge facing the fiscus. Also discussed were the main avenues of expenditure, the trajectory of the budget and the potential tools available to government to reduce ...
Finance Standing Committee
Mandatory Audit Firm Rotation: public hearings; FICA Bill: proposed amendments
15 Feb 2017
Portfolio Committee amendments (see previous version)
The Independent Regulatory Board for Auditors (IRBA) said that the Enron case showed that auditors could become too close to companies. The Masterbond case led to recommendations to strengthen regulations to ensure stricter audit oversight and guard the independence of auditors. IRBA ...
Finance Standing Committee
Money Bills Amendment Procedure Act review: joint workshop
8 Feb 2017
Parliament’s Constitutional and Legal Services Office (CLSO) presented at the joint workshop to the Finance and Appropriations Standing and Select Committees. It noted that the National Assembly had passed a resolution in May 2016 that the Finance Standing Committee should review the Money Bills Act with a view to introduce ...
Finance Standing Committee
Insurance Bill [B1-2016]: public hearings
7 Feb 2017
Public hearings were held by the Committee on the Insurance Bill. Stakeholders were invited to give comment on the Bill and six different parties presented oral submissions. The South African Insurance Association (SAIA) believed that the Bill had to be processed urgently as it contributed to financial stability and governance ...
Finance Standing Committee
Financial Intelligence Centre Amendment Bill: Treasury response to submissions
1 Feb 2017
The Parliamentary Legal Advisor recapped the important points that came up during the public hearing about the President is reservations on the constitutionality of section 45B(1C) warrantless searches in the Financial Intelligence Centre Amendment Bill he had referred back to Parliament. The senior counsel legal opinions set out general principles ...
Finance Standing Committee
Financial Intelligence Centre Amendment Bill: public hearings with Deputy Minister
25 Jan 2017
Public hearings were held on section 45B(1C) of the Financial Intelligence Centre Amendment Bill [B32B-2015] due to the President’s concerns about constitutionality of warrantless searches by inspectors.
In his briefing on the referral process, the Senior Parliamentary Legal Advisor explained that the President could refer a Bill back to Parliament ...
Finance Standing Committee
Insurance Bill [B1-2016]: briefing; Committee programme
24 Jan 2017
The National Treasury and the Financial Services Board (FSB) in their briefing on the Insurance Bill [B1-2016] said insurers and banks had different business models and risk profiles. The Bill was aligned with the Twin Peaks distinction between prudential and market conduct regulation. New insurance legislation had to attend to ...