TWITTER ALERTS (July 2019)

31 July 2019:

ENVIRONMENTAL TAX INCENTIVES: A draft Income Tax Amendment Bill has been released for comment – as one more step in ensuring the effective implementation of the new Carbon Tax Act.

The accompanying explanatory memorandum provides more insight.

30 July 2019:

LAND REFORM: While ratings agency Fitch is confident that government ‘will handle land reform, including measures to allow for expropriation without compensation, in a way that will not damage growth or public finances’, it has issued a warning:

In Fitch’s view, as the process unfolds, the ‘discussion’ entailed ‘could raise international investor concerns about property rights in the long term’.

WIRELESS OPEN ACCESS NETWORK: A policy direction issued to Icasa and finally gazetted late on Friday has confirmed that, while not all ‘additional available spectrum’ will be assigned to the network,

allocations to any ‘incumbent operator’ will come with strings attached (TechCentral).

29 July 2019:

LAND REFORM: The advisory panel on land reform and agriculture report released yesterday lists situations in which land could be targeted for expropriation without compensation. #landreform

If these recommendations are adopted, details and context are likely to be included in the revised Expropriation Bill. The report also recommends a raft of other new legislation panel members believe is essential to successfully implementing the ambitious land reform programme.

Developing & processing this will take many years. How will the anger & frustration of people clamouring for land be managed? How will associated political instability affect investors? These questions need to be asked and answered urgently and convincingly. #landreform

NHI: According to an explanatory summary of the National Insurance Bill, it focuses on the fund and its governance. A summary is usually gazetted shortly before a new Bill is tabled in Parliament – which is in recess until 20 August.

26 July 2019:

SPECTRUM LICENSING: Ministerial bungles need to be exposed. @Stellarated bungled by missing an important deadline imposed by @CyrilRamaphosa – & by issuing a statement on a ‘finalised‘ policy direction not yet approved by Cabinet.

As a country struggling to revive its flagging economy, we need people in charge who understand these things. Cabinet Ministers are handsomely paid from taxpayers’ money. SA is a developing economy with high levels of unemployment & poverty. Does @Stellarated care?

Statement announcing Cabinet approval of policy direction.

LAND REFORM: Parliament’s new ad hoc committee tasked with amending section 25 of the Constitution to provide for circumstances in which land may be expropriated without compensation must complete its work by 31 March 2020. #LandReform#expropriation

CUSTOMARY MARRIAGES: Deliberations on a Bill about to be tabled in Parliament (to ‘eliminate‘ the gender-based discrimination perceived to be implicit in customary marriages regarding property rights) will be informed by ‘extensive public participation’.

25 July 2019:

ECONOMY: A ‘conversation’ is needed about ‘difficult but vital reforms’ that might rescue SA from its ‘growth malaise’, according to SARB Governor Lesetja Kganyago.

ROAD ACCIDENT FUND: Transport Minister Fikile Mbalula has confirmed his intention to reintroduce the contentious 2017 Road Accident Benefit Scheme Bill in Parliament.

24 July 2019:

FINANCIAL SECTOR: The Prudential and Financial Sector Conduct Authorities have called for comment on a draft standard on fit and proper requirements for the significant owners of financial institutions.

FAILING BANKS: The SARB has called for comments on a discussion document entitled, ‘Ending too big to fail: SA’s intended approach to bank resolution’.

INTERNATIONAL CRIMES: Justice & Correctional Services Minister Ronald Lamola intends reviving a lapsed Bill that could point to SA’s eventual withdrawal from the ICC.