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Zuma sends vital finance bill back‚ saying it does not pass constitutional muster

By Genevieve Quintal And Linda Ensor | 2016-11-30 06:19:51.0 | COMMENTS [ 71 ]

President Jacob Zuma addresses the Opening Plenary of the High-Level Meeting of the United Nations General Assembly on the migration in New York, United States of America. Picture Credit: GCIS

President Jacob Zuma has referred the Financial Intelligence Centre Amendment Bill back to the National Assembly as he believed there were some constitutional issues.

The bill has been sitting on the president’s desk for several months despite its importance in ensuring that South Africa’s system of financial regulation complies with its international obligations.

The bill will impose more onerous obligations on banks to know their clients and in particular politically exposed persons such as politicians‚ government officials and directors of companies contracting with government.

“I have given consideration to the bill in its entirety and certain submissions regarding the constitutionality of the bill‚” Zuma said in a statement on Tuesday.

“After consideration of the bill and having applied my mind to it‚ I am of the view that certain provisions of the bill do not pass constitutional muster.”

Critics of Zuma’s long delay in promulgating the law have claimed he is trying to protect those benefiting from corruption‚ such as the Guptas.

The Financial Intelligence Centre Act was the instrument behind the decision of four major banks to terminate their banking relationships with Gupta-owned companies.

The Presidency said Zuma was aware the purpose to be served by the bill was important and pressing but provisions needed to be in line with the Constitution.

Zuma had raised concerns about provisions in the bill relating to “warrantless searches”‚ which according to him “fell short of the constitutional standard required for the provision not to unjustifiably limit the right to privacy”.

The Council for the Advancement of the South African Constitution wrote to Zuma warning him to sign the amendment bill‚ failing which he risked court action.

Casac launched its legal action earlier this month.

Zuma has been accused of breaking his oath of office by not signing the FIC Amendment Bill.

Parliament passed the bill in May‚ but it is now waiting for Zuma’s signature.

The bill requires banks to perform enhanced due diligence on the “politically exposed”‚ in line with international obligations.

But it has aroused ire in some ANC quarters and the Presidency said earlier in August that the delay in signing the bill was because the Progressive Professionals Forum (PPF)‚ a lobby group established by former government spokesman Mzwanele (Jimmy) Manyi‚ had lodged an objection over its constitutionality.

- TMG Digital/BusinessLive


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Lol...Msholozi , when did you read that Bill mara , and did you really understand it? I wonder if you understand the complex (numbers) of Financial World while you can't count numbers up to 20..! What mind did you apply wena mara, and on what ? Mxm..

2016-11-30 06:54:34.0 | 5 replies


Lol. Ka tshega phakela.

2016-11-30 07:24:29.0 | 0 replies


I agree with JZ on this one. The Banks will rip you off, burgle into your house while you are busy on top of someone.

2016-11-30 07:49:23.0 | 3 replies


ok , when u want, u do use that brain of yours ne? ki kiki

2016-11-30 07:55:19.0 | 0 replies


@tpaz, did you by any how read the document?

2016-11-30 08:13:26.0 | 0 replies


tpaz - The bill is about the banks and its ability to monitor and report corruption on prominent figures, especially politicians. The bill allows the banks to act on corruption. Which is why zuma is hesitant to sign it.

2016-11-30 08:40:09.0 | 0 replies


u and this guy next door, are the morons of all the tswana's I have ever met, r u sure utswa maftown, or moved there from deep rural NW?? u sound like "plassjappie come to town"

2016-11-30 07:57:13.0 | 1 replies


@Dkok...What makes you think I am a Tswana-speaking person and that I am rural NW? I am NOT a Tswana-speaking, and to come here to tell me that Tswana-speaking people are morons , it shows your shallow thinking ability, not respecting other tribes and Tswana-speaking people will have to respond to you, not me because I am not a Tswana-speaking person. If you want to engage me, do so on what I posted , I will answer you, don't try to be smart by seeking attention...! Move to strike off the last sentence on your post, it is irrelevant .

2016-11-30 08:37:46.0 | 2 replies



2016-11-30 09:53:57.0 | 0 replies


I said I know of two stupid tswanas, and now it means I know of one since u claim not to be Twsana, if not Tswana then u must be either shangaan, Vhenda or mpetjane nothing else, from wht u write here u cant be Zulu,Ndebele, Swazi or Xhosa,

2016-11-30 10:07:07.0 | 1 replies


@Dkok...Keeping on dreaming and speculating. I thought always you are better when coming to reasoning, and today you have exposed yourself that you are weak when coming to reasoning...!I asked you a simple question, you didn't answer it....Can you really read bro?

2016-11-30 10:21:20.0 | 0 replies


@maftown,how is your place ,I last heard on knews that it is inested with potholes,are things improving?i have never been there but for curiosity ,is it really a city?

2016-11-30 08:38:42.0 | 1 replies


@Letjatji..Which place ? The place where I was born or the place where I am living now?

2016-11-30 09:11:20.0 | 1 replies
2016-11-30 09:20:54.0 | 1 replies


@Letjatji...I am NOT from Mafikeng...!

2016-11-30 09:24:40.0 | 0 replies



2016-11-30 09:47:24.0 | 1 replies


@s.cold....Hahahahahah, so why do you swearing instead of debating? Then why do you have a problem when I said Zuma didn't read that Bill, and he didn't understand it? If he could have understood it, then he must have understood the constitution, the court would never have taken time to explain the constitution to him.Yes, you are right.."they analyse everything for him..", so he lied when he said he "applied his mind", he is a liar mos, a pathological liar......Please don't talk about Accounting because you will embarrass you own president, he must first learn to count up to 20 before we talk about Acoounting...

2016-11-30 10:03:25.0 | 1 replies



2016-11-30 11:12:21.0 | 0 replies


Why waste of time Jakop, refer the Financial Intelligence Centre Amendment Bill straight to CC, you seem to protect corrupt ANC.

2016-11-30 06:58:01.0 | 1 replies


"It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong." -- Thomas Sowell

2016-11-30 09:30:32.0 | 0 replies


If you are struggling,unhappy with anything,problems call +27625 901971,healer ngobi powerful traditional healer.thank you for your magic oil it has changed my relationship and work.and family now am happy

2016-11-30 07:15:13.0 | 0 replies


JZ783, you the smart one to talk about the constitution.

2016-11-30 07:20:46.0 | 0 replies


And people claim Zuma muthi is strong...its not muthi...Zuma is protecting other corrupt officials within the ANC and why would they want to kick him out...the sooner he goes, they will all be facing criminal charges

2016-11-30 07:47:31.0 | 1 replies


There's no muthi Jakop is using here, he planted his boys in all RSA institutes that've political and administrative power and control.

2016-11-30 08:16:36.0 | 1 replies


black people believe in muthi too much...

2016-11-30 08:35:13.0 | 0 replies


Send that rubbish back Zuma, surely its intentions is to trample on our constitutional rights while those in favour use it to witch hunt for their enemies. If no crime or suspicious activity has been reported or observed no one has a right to go through any body's financial records just for the fun of it or hoping they will find something wrong in it

2016-11-30 07:53:49.0 | 2 replies


Dkok - SARS has the right to go through your personal financial records without any court orders or consent. This bill allows banks to report on corruption by prominent figures. You can call it a lifestyle audit if you want to. No I wonder why zuma and the ANC would be against lifestyle audits... Surely the innocent have nothing to worry about... Unless of course they are not innocent and this will make public quite alot of corruption...

2016-11-30 08:42:35.0 | 1 replies


SARS only go through your records for audit and criminal investigation purposes, hence it means there is already a suspicious activity or a crime being investigated, stop talking rubbish u fool.

2016-11-30 10:12:07.0 | 1 replies


Dkok - "SARS only go through your records for audit and criminal investigation purposes"

LOL! So you confirm what I said? If SARS suspects criminal activity, they will go through your records. And how is this different from the FIC bill?

2016-11-30 10:17:22.0 | 1 replies


confirm what u said??? u r truly delusional what u said is "SARS has the right to go through your personal financial records without any court orders or consent" which is false SARS only has a right according to tax laws, they don't do it for fun or to wich hunt(ofcoarse stupid guys like u get hired by SARS and they do stupid and illegal things) u make a misrepresentation and sars investigates that, they don't just wake up and said lets check Sin because he is a DA member

2016-11-30 10:23:21.0 | 2 replies


Dkok - LOL! So tell us about the "rogue spy units" in SARS then dude? Dude, if you serve in government, you should be investigated anyways. If you touch public money, then anyone can look at your bank accounts, and see if there are illicit millions rolling around there. What do you not understand about this? How do you not understand how this will benefit South Africa?

Do we put the privacy of government officials before South Africa now?

Again, go read the article. If there are big words that you need explained, I will do so for you.

2016-11-30 11:24:57.0 | 0 replies


Dkok - As MommaC said, if your ANC officials are clean, then they have NOTHING to worry about it. Its only if you are corrupt, that this bill would not be in your interest.

And we note with interest how you and zuma are against the bill, meant to enhance our ability to track down corruption.

2016-11-30 11:26:20.0 | 0 replies


DK - The current FICA means that the banks have to ask you why forex is coming in, or going out, of your account. They can't release the forex funds until you tell them and, if the Reserve Bank asks, they have to have a record of what it was. If the banks see suspicious amounts, with unlikely reasons, they are obliged to report the matter to the Reserve Bank.

The only difference is that the amendment would now also include unusual local transactions. Nobody is going to worry about the R25 airtime that someone sent you, or your regular banking, the banks will only flag it if there is abnormal amounts going in at strange times.

Unless you are a career criminal, you have nothing to worry about. If you are paying your drug supplier odd amounts, or trying to deposit the cash in transit proceeds, then you may have something to worry about

2016-11-30 10:55:07.0 | 0 replies


Jimmy Manyi complained about this Bill that is why the number 1 thief refused to sign it

2016-11-30 07:58:29.0 | 1 replies


IndigenousNconservative - Jimmy Manyi apparently doesnt want a lifestyle audit, and apparently has a lot of corruption to hide...

2016-11-30 08:45:37.0 | 1 replies


Sin - Remember the Norwegians ambassador complaining that Jimmy as DG of Labour told the Norwegians to partner with business people that he would recommend on a project, rather than with the government. Zuma did not want to fire

2016-11-30 09:07:57.0 | 1 replies


IndigenousNconservative - Yeah I do! Was also funny how the government only acted against his corruption when the Norwegian ambassador made a stink. Even worse, he made us lose out on those investments.

2016-11-30 09:15:57.0 | 0 replies


lol jakop mara.........

2016-11-30 08:13:10.0 | 0 replies



2016-11-30 08:15:24.0 | 1 replies
2016-11-30 08:38:37.0 | 0 replies


All of a sudden you respect the constitution?

2016-11-30 08:20:57.0 | 0 replies


It would be very detrimental to JZ and the guptas to have this bill in law. Which is why jacob is not happy with it.

2016-11-30 08:22:32.0 | 0 replies