After the National Greenhouse Gas Emission (GHG) Reporting Regulations were published on 3 April 2017, the next tranche of laws have now come into force to complement the proposed carbon tax. This is in line with South Africa's international commitments to cut down GHG emissions in South Africa by 34% by 2020; and by 42% by 2025. On 21 July 2017, the Department of Environmental Affairs (DEA) published the National Pollution Prevention Plan Regulations (NPPP Regulations), as well as the Declaration of Greenhouse Gases as Priority Air Pollutants (Declaration), under the National Environmental Management: Air Quality Act (NEMAQA).
Thank you to all who attended the Financial Regulatory workshop on the impact of impending legislative amendments on group scheme structures hosted on Wednesday, 19 July 2017.
We trust that you found the workshop to be informative, and that it enhanced your understanding of the complexities arising in respect of the impending legislation and the impact thereof on various group scheme structures.
Please click
here to access the presentation and
here for an audio recording of the workshop.
Please also note that the Financial Services Board, on Friday 21 July 2017, gave a presentation on the proposed amendments to the draft regulations to the Insurance Acts and the draft Policyholder Protection Rules after receipt of comments from the industry. Click
here and
here to access these presentations.
It is our understanding that the revised regulations and the revised Policyholder Protection Rules will be issued within the next 2 - 3 weeks, with a proposed implementation date of 1 January 2018. We will keep you abreast of these changes and if needed, we will host a further workshop to discuss the proposed changes.
