Draft Regulations on Governance of SEZs Drawn Up

Department of Trade and Industry

Draft regulations calling on Special Economic Zones (SEZ) to make a Declaration of Intent have been published for comment.

The trade and industry department published the proposed amendment regulations on governance and composition of SEZs in Government Gazette 41811 for comment.

They were drawn up in terms of the Special Economic Zones Act.

The draft regulations apply to SEZ entities administering and implementing the act.

They deal with, inter alia, options, requirements, processes and timeframes for transition in governance and composition of SEZ entities and operators, submission of the Declaration of Intent by the IDZ/SEZ, compliance-reporting and monitoring, duties and obligations of the SEZ entities and non-adherence.

SEZs will be expected to submit a compliance notice within three months of the draft regulations coming into effect and annually thereafter.

According to the notice, the draft regulations are designed to remedy the complexities in the administration and implementation of the act.

Comment is invited within 30 days of the date of publication.

Meanwhile, in Notice 789, the department announced the introduction of an online filing method for Financial Accountability Supplements as per form COR30.2.

The requirement for online filing kicked in on 1 July 2018.

The Companies and Intellectual Property Commission (CIPC) will no longer accept manually completed forms.

In Notice 788, the CIPC has announced the introduction of a new electronic filing method for company and close corporation forms by way of mobile app.

The new method applied from 1 August 2018.

In a separate matter, the department, in Notice 439, draft standards on hard coal and coke for comment.

Standards scheduled to be withdrawn were also published for comment.

Sabinet Cape Town Office