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Public Investment Corporation Amendment Bill B1-2018

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Public Investment Corporation Amendment Bill B1-2018

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To amend the Public Investment Corporation Act, 2004, so as to amend certain definitions; to determine the composition of the corporation’s board of directors and  to  provide  for  the  progressive  implementation  of  the  new  composition;  to provide for the Minister to appoint the chairperson of the board on recommenda-tion of the National Assembly and the other members of the board in consultation with  Cabinet;  to  provide  for  specific  representation  on  the  board;  to  require directives  regarding  the  management  of  the  corporation  to  be  tabled  in  the National  Assembly  and  published;  to  require  the  corporation  to  publish  and submit a report on all investments to the Minister for tabling; to provide for annual reporting on requests for approval made in terms of legislation; to provide for a procedure that the Minister must follow before making regulations; to provide that the Minister must table regulations in the National Assembly; and to provide for matters connected therewith.

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