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{
    "id": 1000966,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1000966/?format=api",
    "text_counter": 199,
    "type": "speech",
    "speaker_name": "Amb. Ukur Yatani",
    "speaker_title": "The Cabinet Secretary, National Treasury and Planning",
    "speaker": null,
    "content": "In 2015, the investment guidelines under the retirement benefits regulations were amended to allow pension schemes to invest up to 10 per cent of their assets in private equity funds and venture capital funds which are licensed by the Capital Markets Authority (CMA). However, the Capital Markets Act was not amended to provide for regulations of these private equity and the venture capital. In this regard, I have proposed amendments to the Capital Market Act to provide for the regulation of private equity and venture capital companies by the Authority. In addition, I propose to amend the Capital Markets Act to remove the function of payment of beneficiaries from collected unclaimed dividends since this is a function which is currently domiciled under the Unclaimed Financial Assets Authority."
}