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Public Investment Corporation Amendment Act, No. 14 of 2019
(NOTE: Only assented to on 2021/02/09, and only published on 2021/02/15)
To amend the Public Investment Corporation Act, 2004, so as to insert 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 designate the Deputy Minister of Finance or any Deputy Minister in the economic cluster, in consultation with Cabinet, to be the chairperson of the board; to provide for the Minister to appoint the 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 before the depositors, as well as that it must be published; to require the corporation to consider certain guidelines when investing deposits; 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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