Public Investment Corporation Amendment Bill [B1-2018]

Call for comments opened 17 May 2018 Share this page:

Submissions are now closed (since 25 May 2018)

Finance Standing Committee

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)