Legislation and submissions Archives - Page 2 of 8

Beneficial ownership transparency in Africa slowly gaining ground

28 Mar 2023, 13:13

A report released in mid-March 2023 by the Tax Justice Network (TJN) shows a slow but steady implementation of beneficial ownership transparency (BOT) regulations across the African continent. Titled Beneficial Ownership Transparency in Africa in 2022, the report reveals the state of play of the introduction of laws addressing the lack of BOT, and examines Read more >

LEGISLATION AND SUBMISSIONS

Fact sheet on South Africa’s FATF greylisting

02 Mar 2023, 12:36

South Africa’s national treasury has released a useful fact sheet on the background to and implications of the country’s recent greylisting by the Financial Action Task Force (FATF). Titled What does FATF greylisting mean for a country?, the six-page document explains the role of the FATF and the mutual evaluations all FATF members are required Read more >

LEGISLATION AND SUBMISSIONS

Early 2023 commencement for balance of General Laws amendment act

06 Jan 2023, 11:07

The final part of the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act is due to commence in the early months of 2023. The General Laws (AML/CTF) bill proposed a sweeping range of integrated reforms to five pieces of legislation which regulated vastly different areas of concern – trusts; non-profit organisations; companies; and Read more >

LEGISLATION AND SUBMISSIONS

Weakened law-making system leads to inadequate legislation

18 Nov 2022, 10:38

Image: Wikimedia Commons, used under a Creative Commons Attribution-Share Alike 3.0 Unported license South Africa’s law-making regime is another casualty of the corruption and mismanagement that was prevalent during the state capture years, writes Caroline James, advocacy co-ordinator at amaBhungane. Here she describes how amaBhungane and Corruption Watch had to rush to get their joint submission Read more >

LEGISLATION AND SUBMISSIONS

Urgent need for bill to clarify laws around fake company fronting

07 Nov 2022, 9:16

By Sanan MirzoyevFirst published on Business Day In February 2023, South Africa will almost certainly be making an unwelcome appearance on the Financial Action Task Force’s (FATF) roster of greylisted countries — unless “we perform a few miracles”. These were the words of National Treasury’s Ismail Momoniat when he presented a grim account before Parliament Read more >

LEGISLATION AND SUBMISSIONS

CW and AmaB submit on anti-money laundering bill, express concerns

11 Oct 2022, 11:50

In a comprehensive joint submission to Parliament’s Standing Committee on Finance today, non-profit organisations Corruption Watch and AmaBhungane expressed concern that the haste with which the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill was developed may have compromised its effectiveness. The bill was prepared in a matter of months after the Financial Read more >

LEGISLATION AND SUBMISSIONS

CW urges committee to take care with new gender equality appointments

19 Jul 2022, 14:02

Corruption affects people of all genders, races, and ages – this is known and accepted. It particularly hurts the poorest or most vulnerable members of our society, including the elderly, youth, and women, many of whom are unable to realise their full potential because their rights – social, economic and civic – are denied. As Read more >

LEGISLATION AND SUBMISSIONS

Party funding act, barely a year old, already under threat

19 Apr 2022, 15:14

By Kwazi Dlamini Free reign when it comes to political party funding threatens our hard-fought-for democracy in every aspect. While the new Political Party Funding Act (PPFA), promulgated on 1 April 2021, seeks to address the issue of private donors having unfettered power in funding political parties, at the same time there should be alternate Read more >

LEGISLATION AND SUBMISSIONS

IEC issues party funding disclosure for 3rd quarter 2021

23 Feb 2022, 10:44

Issued by the Independent Electoral Commission Introduction Following a successful implementation of the Political Party Funding Act No. 6 of 2018 on 1 April 2021, the Independent Electoral Commission has thus far issued two quarterly party funding disclosure reports. The first report was issued on 9 September 2021 and the second one was issued on Read more >