We thank the NCOP Select Committee on Finance for calling for comment on the Financial Sector Laws Amendment Bill (FSLAB). We understand that this is based on the passing of the Bill by the National Assembly and referral to the NCOP for concurrence. We also understand that the Select Committee on Finance had received a briefing from National Treasury on the Bill in June 2021. While reviewing the FSLAB we have unfortunately picked up what we consider to be a drafting oversight that was not immediately obvious. We do not believe that this issue means that the legislator differs from a substantive point of view and instead consider the issue to be relatively easily rectifiable.
Letter: Financial Sector Laws Amendment Bill [B15B-2020]