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Finance Standing Committee
Banks Amendment Bill [B17-2014]: National Treasury response to public submissions Day 2
18 Mar 2015
The deliberations covered four major themes raised by the public submissions and a general concern raised by Members on urgency of the Bill and its interface with the ‘Twin Peaks’ resolution legislation.
Creditor Protection
The submissions argued that the Bill provides a wide discretion to the curator and Minister to ...
Finance Standing Committee
Banks Amendment Bill [B17-2014]: Treasury response to submissions
17 Mar 2015
The National Treasury (NT) reported back on submissions received for the Banks Amendment Bill. Most stakeholders agreed with the need for a Bill, even if they differed on the approach. It was to be expected that stakeholders would attempt to elevate their own interestests above those of other stakeholders. It ...
Finance Standing Committee
Committee Report on Fiscal Framework and Revenue Proposals: consideration and adoption
5 Mar 2015
The Standing Committee and Select Committees on Finance adopted the draft report on the Fiscal Framework and Revenue Proposals relating to the 2015 Budget. The draft report was adopted with amendments. The amendment related to tightening and rewording recommendation 4.18 that proposed centralised procurement. Members also agreed that a new ...
Finance Standing Committee
Fiscal framework and revenue proposals; Division of Revenue Bill: Parliamentary Budget Office briefing
3 Mar 2015
The Parliamentary Budget Office (PBO) presented under various headings:
▪ Fiscal Framework: Budget 2015 recognised that the counter-cyclical approach had reached its limits. Fiscal consolidation could no longer be postponed. The current fiscal package was designed to narrow the deficit and stabilise debt. The poor could face the effects of ...
Finance Standing Committee
Financial and Fiscal Commission Amendment Bill: further deliberations
4 Feb 2015
The Committee met for further deliberations on the Financial and Fiscal Commission (FFC) Amendment Bill and began by going through a presentation by National Treasury from the previous meeting on the said Bill. After discussion, Members felt Treasury should look at how many members would be full time and the ...
Finance Standing Committee
Banks Amendment Bill: public hearings; Auditing Profession Amendment Bill: deliberations
4 Feb 2015
The Standing Committee on Finance held public hearings on the Banks Amendment Bill and deliberations on the Auditing Profession Amendment Bill. Thirteen written submissions had been made on the Banks Amendment Bill, but only four of the entities who had made submissions gave oral presentations. These were Investec Asset Management, ...
Finance Standing Committee
Auditing Profession Amendment Bill, Banks Amendment Bill & Financial & Fiscal Commission Amendment Bill: National Treasury briefing
3 Feb 2015
The National Treasury briefed the Standing Committee on the Banks Amendment Bill. Urgent amendments to the Banks Act were needed to increase options for the curator to resolve a bank unable to meet its obligations. Urgency was required to extend the option to the curatorship of African Bank. The option ...