Bill providing for SOE banks to be tabled soon

An explanatory summary of the Financial Matters Amendment Bill was gazetted Wednesday in anticipation of its imminent introduction in Parliament. Once in force, among other things, the Bill will amend the 1990 Banks Act to enable qualifying state-owned entities to apply for banking licences. Other proposals include amendments to the 1936 Insolvency Act, the 2005 Auditing Profession Act, the 1996 Government Employees Pension Law and the 1976 Military Pensions Act.