MASTER DIAMOND CUTTERS ASSOCIATION OF SA

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Presentation transcript:

MASTER DIAMOND CUTTERS ASSOCIATION OF SA THE MASTER DIAMOND CUTTERS ASSOCIATION OF SOUTH AFRICA MASTER DIAMOND CUTTERS ASSOCIATION OF SA PRESENTATION TO THE MINERALS AND ENERGY PORTFOLIO COMMITTEE BY MR M TEMANE

Member of the Diamond and Jewellery Federation As a member of the Diamond and Jewellery Federation, we support the Bill and government’s intention to transform the industry. However the industry feels that the following issues need to be taken into account: Representation in accordance with section 17(3)(b) should be increased more representative of the industry organisations.

Comments It is proposed that a stringent version of section 40 be implemented or retained in the current Act. Monies received in accordance with section 17(f)(3) should be in the form of state funds. The Board should be seen to be independent, impartial and beyond influence.

Comments Section 40, 41, 42 , 43 and 64 should not be repealed. Section 58 of the Principal Act should be re-instated as the beneficiators cannot cut and polish all diamonds

Comments Department of Minerals and Energy is requested to liaise with sister departments to assist in addressing the following issues: VAT turn around time Dollar accounts 15% export duty

THANK YOU