THE Securities (Amendment) Bill passed through the Second Reading stage on Thursday, after Finance and National Planning Minister Dr Situmbeko Musokotwane refused to withdraw it. The parliamentary committee for planning and budgeting rejected the Securities Amendment Bill on grounds that it contained provisions that may be detrimental to the proper functioning of capital markets by expanding the Commission’s powers while reducing its accountability in how it conducted its mandate. According to the Committee report, the Securities amendment bill was detrimental to the proper functioning of capital markets. “The Committee is of the considered view, that the Bill contains provisions that maybe detrimental to the proper functioning of capital markets by expanding the Commission’s powers while reducing its accountability in how…...

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