Public Investment Corporation Amendment Bill [B1-2018]

The Standing Committee on Finance invites you to submit written submissions on the Public Investment Corporation Amendment Bill (Private Members’ Bill - explanatory summary of Bill and prior notice of its introduction published in Government Gazette No 41215 of 31 October 2017) & Draft Public Investment Corporation Amendment Bill (Committee Bill).

The Bills aim to:
▪ amend the Public Investment Corporation Act, 2004, so as to insert certain definitions;
▪ require the corporation to consider certain things when exercising its powers;
▪ determine the composition of the corporation’s board of directors and to provide for the progressive implementation of the new composition;
▪ provide for the Minister or Deputy Minister to be the chairperson of the board;
▪ provide for the Minister to appoint the members of the board in consultation with Cabinet;
▪ provide for specific representation on the board;
▪ require directives regarding the management of the corporation to be tabled in the National Assembly and published;
▪ require the corporation to publish and submit a report on all investments to the Minister for tabling;
▪ provide for annual reporting on requests for approval made in terms of legislation;
▪ provide for a procedure that the Minister must follow before making regulations;
▪ provide that the Minister must table regulations in the National Assembly;

Public hearings will be conducted at Parliament on Tuesday, 29 May 2018.

Please note submissions and your indication to make oral presentation must be received by no later than 12:00 on Friday, 25 May 2018.

Comments can be emailed to Mr Allen Wicomb at [email protected] and Ms Teboho Sepanya at [email protected] by no later than 12:00 on Friday, 25 May 2018.

For Public hearings' dates and enquiries please contact Mr Allen Wicomb on tel (021) 403-3759 or Ms Teboho Sepanya on tel (021) 403-3738

Issued by Hon. YI Carrim, MP, Chairperson: Standing Committee on Finance (National Assembly)