Finance Minister Enoch Godongwana has announced the commencement of the Financial Matters Amendment Act (FMAB).In a government gazette, the Minister said that the new laws were enacted on 14 July 2023.Broadly, the bill amends several other pieces of legislation, including:

• Associated Institutions Pension Fund Act
• Temporary Employees Pension Fund Act
• Military Pensions Act
• Government Employees Pension Law
• Land and Agricultural Development Bank Act (Land Bank Act)
• Auditing Profession Act
• Auditing Profession Amendment Act

FMAB was introduced to the National Assembly in early September 2022 and has seen several alterations before being signed into law. Click here to read the full article