Justice Minister Michael Masutha is in talks with Finance Minister Malusi Gigaba over the restoration of the special advisory council which was legislatively provided for under the Financial Intelligence Centre Act (Fica) of 2002 but then abolished under this year’s amendments to the legislation. The council was never established but Masutha said at a media briefing ahead of his budget vote speech in the National Assembly Thursday that it was "concerning" that the Financial Intelligence Centre Amendment Act did away with the "all important" advisory council. The minister is trying to get it reincluded in the legislative regime created by the Financial Intelligence Centre Act and its amendments. "We will possibly be approaching Cabinet collectively with proposals to remedy the weaknesses that have bedevilled the effectiveness of the Fica system," Masutha said. "The council would serve as an oversight accountability structure in relation to the functioning of the Financial Intelligenc...
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