FINANCIAL SERVICES BOARD
Rigel Park 446 Rigel Avenue South Erasmusrand Pretoria South Africa
PO Box 35655 Menlo Park Pretoria South Africa 0102
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Enquiries; J van Rooyen D. Dialling No.: (012) 428 8080
E-mail: [email protected]
To: Jeremy Michaels
Committee Secretary: Ad Hoc Commit on Finance
Attention: Ms Barbara Hogan
Dear Ms Hogan
AMENDMENTS TO THE PUBLIC INVESTMENT CORPORATION BILL [B6-2004]
Thank you for sending the FSB the Committee’s proposed amendments for comment.
After consulting with the Public Investment Corporation and my colleagues, including Franso van Zyl, we wish to inform the Committee as follows:
Proposed amendments to specific clauses in track format sent by the Committee on 23 June 2004 and reworded clause 9 sent on 24 June 2004.
The FSB supports the proposed amendments. As far as the wording of clause 9 sent on 24 June 2004 (presumably to replace clause 9 in track format sent on 23 June) is concerned, the deletion of the words "as contemplated in section 7 and 8 of the FAIS Act" at the end of sub-clause (1) is proposed. The reference to sections 7 and 8 is superfluous because of the automatic inclusion thereof in the earlier words "in terms of the FAIS Act".
Proposed amendments in terms of letter of 25 March 2004 from the FSB to PIC
The FSB is also satisfied that, as a result of the above, all the issues raised in the letter of 25 March 2004 to the PIC in respect f an earlier version of the Bill have been addressed satisfactorily.
Proposed amendments withdrawn by the FSB on 22 June 2004-08-03
We trust the above comments will be of help to the Committee
Yours sincerely
JEFF VAN ROOYEN
EXECUTIVE OFFICER