The draft amendment to Article 411 of the Commercial Code was the focus of a meeting on Wednesday at Carthage Palace between President Kais Saied and Justice Minister Leila Jaffel, who briefed him on the final version of the draft, according to a statement from the presidency.

The draft aims to strengthen the duties assigned to banks and enshrine their responsibility, as well as the use of payment mechanisms and alternative electronic solutions, and to improve banking practices in order to strengthen security standards in the handling of cheques and achieve social justice and economic development.

It also aims to adapt the penal policy to the specificity of the cheque business and to establish a system to regulate the status of those who have been sentenced by a court or are the subject of ongoing judicial proceedings for the crime of issuing a bounced cheque, «which contributes to preserving the freedom of the debtor and, at the same time, the right of the creditor.»

During the meeting, the President of t
he Republic cited a number of examples from comparative law, recalling the many “tailor-made” laws that “were developed at the end of the seventies of the last century in the light of the liberal tide experienced by Tunisia at the time and which led to many social explosions and the fall of martyrs”.

He also reviewed a number of other laws “that were drawn up after that date and from which the founders of small and medium-sized enterprises in particular did not benefit, but were among their victims”, noting that “the only beneficiaries were banking institutions that lend only on conditional terms and without any responsibility”.

He recalled what happened in the previous parliament when sessions were adjourned under the pretext of further consultations and resumed a few minutes later after amendments were made so that these laws would be “tailor-made”, according to the same statement.

Source: Agence Tunis Afrique Presse

Cabinet has considered and approved the hosting of the annual meeting of the New Development Bank (NDB) to take place in South Africa in June 2024.

Minister in The Presidency Khumbudzo Ntshavheni said it has been 10 years since Brazil, Russia, India, China and South Africa (BRICS) countries signed the Articles of the NDB at the 6th BRICS Summit in Fortaleza, marking the establishment of the ‘first multilateral development institution by emerging and developing countries’.

Briefing media on the outcomes of the Cabinet meeting on Thursday, Ntshavheni said South Africa had so far contributed R25 billion towards the bank’s paid in capital.

‘South Africa is looking forward to host the meeting on the NDB and commits to working hand-in-hand with the bank and its member countries to achieve sustainable development and create a better the African continent,’ Ntshavheni said.

Social service professionals strategy approved

Cabinet has also approved the Strategy for the Employment of social service professionals (SS
Ps) strategy, as part of increasing the human resource capacity of government, including non-governmental organisations, and the private sector to proactively respond to social ills that are facing the country.

‘The strategy is a collective commitment to building a social service sector that is responsive to the needs of our communities and overcome social ills such as crime, gender-based violence and femicide, teenage pregnancy, bullying, child-headed households, mental health and substance abuse.

‘The strategy is also aimed at laying the foundation for a socially inclusive and resilient future and a caring society,’ Ntshavheni said.

Comments sought on Green Paper on Comprehensive Social Security

Meanwhile, Cabinet has called on the public to submit comments on the revised Green Paper on Comprehensive Social Security for the country.

This follows Cabinet’s approval of the publication of the revised paper, which aims to introduce a mandatory social security pension system that provides retirement, disabi
lity, and death benefits to all workers.

Low income earners would have their contributions subsidised, in line with existing provisions.

‘The paper further proposes the harmonisation of the tax treatment of older persons in the tax and social grant system to address the unequal treatment of older persons in the two regimes.

‘In addition, the paper also seeks to propose institutional reforms to promote coherence in social security policy making for administrative efficiency, improved service delivery and ensure effective regulation, governance and oversight across all social security arrangements,’ Ntshavheni said.

Source: South African Government News Agency