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Shareholder Management Bill Under Construction

May 26, 2017

Department of Public Enterprises

The Draft Shareholder Management Bill will be introduced in 2017/18.

The public enterprises minister, Lynne Brown, confirmed this during her department’s budget vote speech in parliament.

The minister also revealed that cabinet has approved new State-Owned Company Remuneration and Incentives Standards for Non-Executive Directors, Executive Directors and Prescribed Officers.

‘The guiding principles ensure that performance is transparently linked to incentives. Much of this financial year will be spent on implementation,” she said.

The minister also indicated that her department has been instructed to draw up the terms of reference for a broad-scope inquiry into affairs at Eskom since 2007/2008.

She added that the constitution of the inquiry is yet to be finalised.

The minister also wants the Special Investigating Unit to “review the contents of all reports into alleged wrongdoing at Eskom, conduct further investigations into procurement and governance issues raised, as necessary, and report to a retired judge.”

The plan is also for the judge to consider the SIU’s report and draw up recommendations for the minister on remedial action.