EXPROPRIATION WITHOUT COMPENSATION
Bankers warn of domino effect of mass land seizure
Expropriation without compensation was likely to trigger a further ratings downgrade, low demand for property in SA and a loss of confidence in the banking sector, the Banking Association of SA warned at the weekend. In February, in a move that spooked investors, Parliament voted in favour of an EFF motion for land expropriation without compensation. The constitutional review committee was instructed to review section 25 of the Constitution and other property clauses and report back to Parliament in August. The EFF appears to be pushing for a blanket approach to land expropriation while the ANC seems more in favour of a case-by-case approach as articulated in the Constitution. On Friday in Parliament the constitutional review committee hosted a colloquium on section 25 of the Constitution. Many commentators argue that amending the Constitution to allow for land expropriation without compensation is not necessary as it is already provided for under legislation. In his submission, Pie...
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