Financial Markets Control Amendment; Closed Fund Amendment Bills: adoption

Meeting report

SELECT COMMITTEE ON FINANCE
14 September 1999
FINANCIAL MARKETS CONTROL AMENDMENT BILL [B38 – 99];
CLOSED PENSION FUND AMENDMENT BILL [B39 - 99]: ADOPTION

Documents:
Financial Markets Control Amendment Bill [B38 – 99]
Closed Pension Fund Amendment Bill [B39 - 99]

SUMMARY
The committee adopted the Financial Markets Control Amendment Bill and the Closed Pension Fund Amendment Bill.

MINUTES
Financial Markets Control Amendment Bill
A member from Gauteng raised the question whether there are any other markets, in the South African context, that could be included in this Bill. A representative from the Johannesburg Stock Exchange responded that at the moment there are only three licenced exchanges, other associations are allowed to apply for a licence in terms of the Exchange Act.
Since there were no objections the Bill was adopted by the committee.

Closed Pension Fund Amendment Bill
There were questions or objections, the Committee therefore adopted the Bill.

Since there were no further matters to discuss the meeting was adjourned.