You are invited to comment on amending the SARB act | dear South Africa


EFF leader Julius Malema intends to introduce a Private Member’s Bill in terms of the Constitution, to amend the South African Reserve Bank Act.
PLEASE SHARE FAR AND WIDE – CLICK THE IMAGE TO PARTICIPATE AND COMMENT

The SARB Act, among other things, deals with the share capital of the bank. The provision of the share capital of the bank and the increase of the share capital by issuing shares enables private individuals, including foreign nationals, to buy and own shares in the SARB.

– The bank currently has about 650 shareholders other than government.
– The Amendment Bill seeks to amend the act to make the state a sole holder of the shares of the bank.
– The draft bill will provide for the president, in consultation with the minister of finance and Parliament, to appoint the governor, deputy governors and all other directors of SARB.
– The draft bill will also set out the role of the minister of finance as a shareholder to exercise the rights attached to the shares in the bank.
– In terms of the Constitution, the bank is independent from government, and private shareholders have no say over monetary policy.

https://dearsouthafrica.co.za/sarb-amendment-bill/

You are invited to comment on amending the SARB act | dear South Africa ajax loader

You are invited to comment on amending the SARB act | dear South Africa

EFF leader Julius Malema intends to introduce a Private Member’s Bill in terms of the Constitution, to amend the South African Reserve Bank Act. The Amendment Bill seeks to make the state a sole shareholder of the bank. Click the image or link to participate.


Source

Posted by | View Post | View Group

You may also like...

Comments are closed.