Back to Index
Roundup Bulletin No. 05 - 2013
Southern African Parliamentary Support Trust
May 06, 2013
its business yesterday after a two-month long break, with much anticipation
for debate on the Constitution Bill. The Minister of Constitutional
and Parliamentary Affairs, Hon. Advocate Eric Matinenga formally
introduced the Bill in the House
of Assembly and the first reading of the Bill was done. The
Minister of Finance, Hon. Tendai Biti gave his second reading speech
on the Micro-Finance Bill (H.B. 2, 2012), Securities Amendment Bill
(H.B. 1, 2012) and Income Tax Bill (H.B. 5, 2012) before the House
adjourned to today.
of the Constitution Bill
of Constitution of Zimbabwe Amendment (No. 20) was preceded by the
suspension of Standing Orders related to the stages of bills in
the House. This was to pave way for the “fast-tracking”
of the Bill in the House. The Minister of Constitutional and Parliamentary
Affairs then introduced the Bill in the House and immediately adjourned
debate on the Bill to Wednesday 8 May 2013. This clearly did not
go down well with ZANU PF leadership in the House who had come in
full force anticipating that the Bill would be fast-tracked in both
Houses of Parliament yesterday.
Matinenga said that timelines of the process on the Bill were agreed
to on Monday by the COPAC Management in which all the 3 parties
were represented. He said was mandated by the COPAC Management to
introduce the Bill on Tuesday, with debate on the Bill coming the
following day. Hence his argument carried the day and the second
reading stage of the Bill was deferred to Wednesday 8 May 2013.
It is not so
clear why Zanu-PF Members were frantically pushing for the fast-tracking
of the Bill yesterday.
Reading Speech on Finance Bills by Minister of Finance
of Finance, Hon. Tendai Biti gave his second reading speech on the
Micro-Finance Bill (H.B. 2, 2012), Securities Amendment Bill (H.B.
1, 2012) and Income Tax Bill (H.B. 5, 2012) yesterday.
said the Micro-Finance Bill shall provide for the regulation and
supervision framework for the Micro-Finance Sector including minimum
requirements in respect of rules and regulations, licencing of the
different classes of Micro-Financing institutions, credential supervision
and institutional arrangements, roles of various stakeholders and
a framework that promotes fairness and equity in the provision of
micro-finance service. This will form the basis of the National
Micro-Finance Policy of Zimbabwe.
On the Securities
Amendment Bill, Hon. Biti said this was a very important amendment
“consistent with international best practices and some of
the lacunas and gaps” meant to deal with such issues particularly
around issues of insider trading. He said there has been a lot of
insider trading on the Stock Exchange.
Income Tax Bill, the Minister said this was a very important piece
of legislation which would fundamentally change the structure, the
process, the substance and the output of the income tax in Zimbabwe.
Bills could not proceed beyond the second reading stage as Hon.
Eddie Cross objected to this arguing that the Portfolio Committee
on Budget, Finance and Investment Promotion intended to conduct
public hearings on the Bills. The Minister conceded to Hon. Cross’s
requested. Thus the Micro-finance Bill and Securities Amendment
Bill were deferred to 14 May 2013 whereas debate on the Income Tax
Bill was deferred to 3 June 2013, to give the Portfolio Committee
adequate time to consult the public on the Bills.
The Senate continued
with debate on the motion in reply to the Presidential Speech and
the condolence motion on the death of Vice President Hon. John Landa
major business in Parliament today is the debate on the Constitution
Visit the Southern
African Parliamentary Support Trust fact
Please credit www.kubatana.net if you make use of material from this website.
This work is licensed under a Creative Commons License unless stated otherwise.