Committee Notice Details

Committee Notice Details

Have Your Say: Public Investment Corporation Amendment Bill (Private Members’ Bill) & Draft Public Investment Corporation Amendment Bill (Committee Bill)

The Standing Committee on Finance invites stakeholders and interested parties 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;
  • and provide for matters connected therewith.

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

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

Submissions must be directed to the Committee Secretaries, Mr Allen Wicomb and Ms Teboho Sepanya, 3rd Floor, 90 Plein Street, Cape Town, 8000 or awicomb@parliament.gov.za / tsepanya@parliament.gov.za tel. (021) 403-3759 / (021) 403-3738 or fax: (021) 403-3942.

Copies of the Bills can be requested from the Committee Secretaries.

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