The National Small Business Act, 1996- Amendment.

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Presentation transcript:

The National Small Business Act, Amendment

Objective of Amendments Repeal all Provisions pertaining to the National Small Business Council; Provide Ministerial Powers to establish a voice of Small Business; To amend technical provisions relating to the Agency i.e alignment of the mandates; To amend technical provisions relating to the Nominations of the Agency Board; To make substitution to the schedule of the Act to reflect changes in current economic changes i.e the change in the value of the Rand.

Amendment of Section 1 Deletion of the Constitution of the Council

Substitution of Chapter 2 Chapter 2 is substituted by providing the Minister with powers to establish a voice of Small Business; “ the Minister may provide mechanism to give a voice to small business as contemplated in the support strategy.

Technical amendments in Chapter 3 Overlapping policy and research functions of Ntsika and the dti are hereby amended; An open ended mandate by Ntsika “other non financial srvices” to be amended to refocus the mandate.

Amendment of section 11 Technical amendment required in section 11 to remove the cumbersome process of appointing Board of Directors for Ntsika (remove Gazette); Technical amendment regarding the appointment of alternates required to strengthen cooperate governance in the Agency.

Amendment of Section 19(4) Technical amendment required to allow time for information to be incorporated in the Annual Review of Small Business.

Substitution of the Schedule Due to continuous economic change and thus the monetory value, the schedule of the Act needs to be substituted with new figures and treshholds.