Fica bill passed in rare display of unity by political parties
Opposition parties on Tuesday afternoon slammed President Jacob Zuma for sending the bill back to Parliament.
CAPE TOWN - In a rare display of unity, political parties have banded together to pass an amended Financial Intelligence Centre Amendment bill.
Finance committee chairperson Yunus Carrim says legal advice had assured Members of Parliament (MPs) that warrantless searches are legal.
Government has been given until the end of the month to comply with the Financial Action Task force and sign into law amendments to the Financial Intelligence Centre Act.
Failure to do so would concern foreign banks and regulators.
MPs across the house agreed there could be no further delays.
Carrim says after public hearings and legal advice, he’s satisfied the bill is constitutionally sound.
Opposition parties say President Zuma must be pressured into approving bills much faster.