The National Treasury invites you to comments on the draft Conduct of Financial Institutions (COFI) Bill 2018, which is published today together with an explanatory policy paper that sets out the policy rationale for the COFI Bill.
The COFI Bill is the next phase of the legislative reforms aimed at strengthening the regulation of how the financial services industry treats its customers. The Bill follows the Financial Sector Regulation Act (FSRA) No 9 of 2017, which established two new authorities with dedicated mandates. The two new authorities are the Prudential Authority (PA) which manages prudential risk (financial health), and the Financial Sector Conduct Authority (FSCA) which manages the market conduct risk across all financial institutions. Both regulators became operational on 1 April 2018.
You are invited to provide suggestions or comments in support or objection via the form below. Should you be unsure, please read the live comments, media, summary or documents below. Closing date is Monday, 1 April 2019.
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The Feeds and Pet Food Bill has been drafted to provide for:
the regulation of feed and pet food;
the regulation of feed ingredients used in the manufacturing of feed and pet food;
the licensing or registration of facilities used for the manufacturing of feed or pet food;
the appointment of a Registrar to administer the Act;
the appointment of advisory committees, advisers, assignees, auditors, and inspectors to assist the Registrar in the exercise of his or her powers in the regulation, compliance monitoring and enforcement of this Act.
the need to ensure the manufacturing of safe feed for animals intended for human consumption;
the need to ensure the manufacturing of safe pet food intended for companion animals;
the critical role that feed play in food safety, nutrition and food security;
the need for a traceability system within the feed and pet food industries.
AND IN ORDER TO –
protect the consumers and users of feed and pet food;
disseminate an efficient and effective traceability system;
ensure compliance with food safety requirements.
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- Agriorbit – Reality of the Draft Feeds and Pet Food Bill
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