Malusi Gigaba in talks on regulations to enforce Fica
The regulations are needed for the implementation of the Financial Intelligence Centre Amendment Act
Finance Minister Malusi Gigaba is holding consultations on the regulations that will give effect to the Financial Intelligence Centre Act, to which the amendments have been signed by President Jacob Zuma. The regulations were needed for the implementation of the Financial Intelligence Centre Amendment (Fica) Act and were expected to be finalised soon. Communications Minister Ayanda Dlodlo told reporters after a Cabinet meeting on Thursday. She was unable to give a time frame for the conclusion of the consultations and the promulgation of the regulations. Consultations were taking place within the government on the regulations, she said. The news that Gigaba is attending to the implementation of the bill will be reassuring to organisations such as the Council for the Advancement of the South African Constitution (Casac) and Corruption Watch, which were concerned about Zuma’s delays in dealing with the bill which is intended to strengthen the monitoring of financial transactions of pr...
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