Files
| Attachment | Size |
|---|---|
| publicinvestmentcorporationamendmentact14of2019.pdf | 143.58 KB |
14 of 2019
The Public Investment Corporation Amendment Act 14 of 2019 intends:
- to amend the Public Investment Corporation Act, 2004, so as
- to insert certain definitions;
- to determine the composition of the corporation’s board of directors and to provide for the progressive implementation of the new composition;
- to provide for the Minister to designate the Deputy Minister of Finance or any Deputy Minister in the economic cluster, in consultation with Cabinet, to be the chairperson of the board;
- to provide for the Minister to appoint the members of the board in consultation with Cabinet;
- to provide for specific representation on the board;
- to require directives regarding the management of the corporation to be tabled in the National Assembly and before the depositors, as well as that it must be published;
- to require the corporation to consider certain guidelines when investing deposits;
- to require the corporation to publish and submit a report on all investments to the Minister for tabling;
- to provide for annual reporting on requests for approval made in terms of legislation;
- to provide for a procedure that the Minister must follow before making regulations;
- to provide that the Minister must table regulations in the National Assembly; and
- to provide for matters connected therewith.
Commencement
15 February 2021
