Parliament weighs up EFF bill to expropriate Reserve Bank without compensation
EFF chief whip Floyd Shivambu is adamant the constitution allows for such expropriation when it is in the public interest
26 August 2020 - 12:53
Parliament’s legal advisers believe a legislative proposal by the EFF to nationalise the Reserve Bank is unconstitutional because it does not provide for the state to compensate the institution's private shareholders.
However, EFF chief whip Floyd Shivambu is adamant that the constitution does allow for expropriation without compensation when this is in the public interest.
BL Premium
This article is reserved for our subscribers.
A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now