Question NW4465 to the Minister of Employment and Labour
02 December 2022 - NW4465
Denner, Ms H to ask the Minister of Employment and Labour
Whether the (a) Compensation Fund (CF) and (b) Department of Labour intend to hold the Public Investment Corporation (PIC) accountable for the late and/or non-submission of financial information for audit purposes of the CF, with specific reference to unlisted investments made by the PIC on behalf of the CF; if not, why not; if so, how?
Reply:
Yes. The Investment Services Agreement between the Fund and the PIC is being reviewed to incorporate Penalties for non-compliance to the Service Levels and reporting requirements.