Question NW2006 to the Minister of Finance

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23 August 2017 - NW2006

Profile picture: Maynier, Mr D

Maynier, Mr D to ask the Minister of Finance

(1)What is the official position regarding the remedial action proposed by the Public Protector in respect of the SA Reserve Bank (SARB) in her report on the Alleged Failure to Recover Misappropriated Funds (Report No. 8 of 2017/18); (2) whether he will join the application by the SARB to take the remedial action in the matter on review; if not, why not; if so, what are the relevant details; (3) whether he will make a statement on the matter?

Reply:

1. The Minister has initiated proceedings in the High Court to review and set aside the remedial action of the Public Protector.

2. The SARB initially issued an urgent application on 27 June 2017 on a limited attack and issued its full review application on 31 July 2017. The application by the Minister and SARB together with that of ABSA have since been consolidated by direction of the Deputy Judge President of the Gauteng Division of the High Court, Pretoria.

3. The Minister issued a statement on the matter on 05 July 2017, indicating the steps that he intended taking regarding the report.

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