Finance Standing Committee
Financial Sector Regulation Bill [B34-15]: National Treasury response to public hearings
16 Feb 2016
The meeting began with a presentation by National Treasury on its responses to the major points raised during the public hearings on the Financial Sector Regulation Bill.
The six major areas were: role of parliament in making regulatory instruments; clause 141 binding interpretations; significant owners; directives to holding companies; the ...
Finance Standing Committee
Financial Sector Regulation “Twin Peaks” Bill [B34-2015: public hearings
10 Feb 2016
The Committee heard submissions during a public hearing on the Financial Sector Regulation Bill [B34-2015], from the Banking Association of South Africa (BASA), Association for Savings and Investment South Africa (ASISA), Centre for Applied Legal Studies (CALS) and Information Governance Consulting. BASA supported the Bill in principle, but noted several ...
Finance Standing Committee
Financial Intelligence Centre Amendment Bill [B33-2015]: public hearing, National Treasury Response
2 Feb 2016
The meeting began with the Chairperson putting forward National Treasury’s and his view about the need to meet the constitutional deadline for section 42(b) of the Financial Intelligence Centre Act, but saying it would be better to process the Bill as a whole given that the invalidity flowing from the ...
Finance Standing Committee
Financial Sector Regulation Bill [B34-15]: public hearings; Taxation Laws Amendment Bill [B29B-15]: voting
25 Nov 2015
The Committee had gone through a list of Standing Committee amendments to the Taxation Laws Amendment Bill [B29B-2015] the day before (the 'A' list), and a subcommittee chaired by Mr D van Rooyen had processed another set of amendments. The Committee was now ready to vote on the Bill as ...
Finance Standing Committee
Financial Sector Regulation Bill [B34-15]: public hearings; Taxation Laws Amendment Bill [B29-15]: consideration
24 Nov 2015
The Committee met with National Treasury to approve the Portfolio Committee's amendments (the A list) to the Taxation Laws Amendment Bill . The changes considered dealt with two matters: (1) To take out the retirement reform proposals in the tabled Bill, effectively going back to the law as it stood ...
Finance Standing Committee
Taxation Laws Amendment Bill [B29-15]; Financial Sector Regulation Bill [B34-15]: consideration
17 Nov 2015
National Treasury presented its response to the various submissions, made both during public hearings and subsequently, in relation to the Taxation Laws Amendment Bill. The National Treasury outlined the process followed with the Bill, starting from consultations in 2012, some decisions on amendments in 2013, and various meetings and individual ...
Finance Standing Committee
Medium-Term Budget Policy Statement (MTBPS) 2015: Parliamentary Budget Office review
27 Oct 2015
The Parliamentary Budget Office provided an analysis of the Medium-Term Budget Policy Statement for 2015 to a joint meeting attended by the Standing and Select Committees on Appropriations and the Standing and Select Committees on Finance.
The Parliamentary Budget Office generally echoed the concerns contained in National Treasury’s budget policy ...
Finance Standing Committee
Finance Budget Review and Recommendations Report
20 Oct 2015
The Committee discussed and adopted the Budgetary Review and Recommendations Report with amendments and corrections, as it had to be submitted on that very day. It was considered in order to adopt the report before editing, as long as no changes to content were made after adoption. During consideration, matters ...
Finance Standing Committee
Taxation Laws Amendment Bill & Tax Administration Laws Amendment Bill: National Treasury and SARS response to public hearings; Tax and Harmonisation Reform: National Treasury briefing; Twin Peaks Bill: Expert briefing
15 Oct 2015
The Committee first heard representatives from both National Treasury and the South African Revenue Service (SARS) present draft responses to public comments on the Taxation Laws Amendment Bill and Tax Administration Laws Amendment Bill (TLAB & TALAB). The main issues addressed by public comments on the TLAB include efforts to ...
Finance Standing Committee
National Treasury and SARS on their 2014/15 Annual Reports; Audit outcomes by Auditor-General
13 Oct 2015
The Auditor-General of South Africa (AGSA) presented on the audit outcomes for the finance portfolio for 2014/15. Its areas of focus had been the submitted financial statements, financial health, performance report quality, supply chain management, human resource management and information technology. Some auditees had avoided qualification due to the correction ...