TWO-POT RETIREMENT SYSTEM

• National Treasury published proposed amendments to three pieces of legislation governing public sector pension funds:
  • draft amendments to the Government Employees Pension Law, 1996
  • draft amendments to the Post & Telecommunications-related Matters Act, 1958, and
  • draft amendments to the Transnet Pension Fund Act, 1990
• According to an accompanying media statement, the purpose of these proposed amendments is to:
  • ensure that they are included in the Pension Funds Amendment Bill now before the National Assembly’s Standing Committee on Finance, and
  • align pension laws across all sectors so that fund rules are amended in time for the two-pot retirement system’s implementation on 1 September 2024.

 

LEGAL PRACTITIONERS

• The Department of Justice and Constitutional Development gazetted uniform guidelines to be applied when recommending the conferment of senior counsel or senior attorney honours on an eligible legal practitioner. Underpinned by principles set out in a preamble to the Legal Practice Act, 2014, the guidelines require that – in making recommendations to the Minister – among other things the Legal Practice Council should:
  • ‘facilitate the realisation of the goal of a transformed and restructured legal profession that is accountable, efficient and transparent’, and
  • enhance and maintain the integrity and status of the legal profession.
• Paragraph 4.3.1 states that, in making recommendations, ‘due regard must be had’ to:
  • the racial and gender composition of the profession
  • the demographics of the country, and
  • specialised fields of practice, as well as
  • seniority, experience, ‘recognised ability’, leadership qualities, ‘maturity of judgment’ and ‘demonstrable commitment to transformation’.
• A media statement on the guidelines provides more insight into the constitutional imperatives informing their development.

 

TRUST PROPERTY CONTROL ACT

• The Department of Justice and Constitutional Development gazetted amendments to Regulation 3E under the Trust Property Control Act, 1988. This is noting:
  • that Regulation 3E was added in March 2023 and deals with access to information contained in the beneficial ownership register, and
  • amendments to the Act made by the General Laws (Anti-Money Laundering & Combating Terrorism Financing) Amendment Act, 2022, in force since 1 April 2023.

 

NATIONAL COUNCIL OF PROVINCES PROGRAMME

• The latest NCOP programme (updated on 7 March 2024) enables committees to continue working until 3 May 2024 – with 21 May 2024 earmarked for a final NCOP plenary.

 

Prepared by Pam Saxby