PARLIAMENT: After a massive outcry from civil society, Finance committee refuses to rubber-stamp greylisting bill

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Knitting clubs, church choirs and community sports clubs would have to register with the Department of Social Development if the General Laws Amendment Bill on combating money laundering and terrorist financing remains unchanged. But after sharp ...

It’s about as forthright a rebuke as they come on how Cabinet has juniorised, and perhaps even relegated, the legislative sphere of the state.Daily MaverickAs SA moves to prevent global greylisting, alarm bells ring over broad definition of terrorist activitiesThat’s six weeks after the National Treasury first indicated to Parliament’s finance committees its concern over the fast-approaching deadline to meet FATF requirements, or face greylisting.

“Given the role played by the interdepartmental committee and the minister of finance in guiding and leading this process, there is no need to appoint a person in the Presidency to coordinate the economic and security clusters,” said Ramaphosa.Delays by Cabinet, ministers and departments are not unusual.

There has been talk about an end-of-2022 deadline since the mid-June meeting between Parliament’s finance committees and the National Treasury on the FATF report.Then Ramaphosa’s September parliamentary reply to Steenhuisen returned to a year-end deadline. “The FATF expects the first report on the steps we are taking by November 2022. That will be referred to a FATF panel of reviewers.”

But enactment before 31 December means adopting both draft laws in the National Assembly, processing and adoption also in the NCOP, and referral to the Presidency, which must do its own due diligence before the President signs the bills into law.

 

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