Cleared Bosasa beneficiary Frolick reminds MPs to declare their financial interests

Members of Parliament (MPs) have been reminded to declare their financial interests by a fellow member who had previously been accused of benefiting from the state capture-linked company Bosasa.

The National Assembly held a hybrid plenary sitting on Wednesday, during which ministers from the security cluster responded to MPs’ queries in a question-and-answer session.

Frolick on MPs financial interests

Before the session could commence, Parliament’s chairperson of chairpersons Cedric Frolick told MPs that they needed to declare their interests in terms of the Code of Ethical Conduct and Disclosure of Financial Interests.

“A member must disclose his or her registrable interests within 60 working days after the member took the prescribed oath as contemplated in Section 48 or Section 62 paragraph read with schedule 2 of the Constitution as the case may be,” Frolick said on Wednesday.

ALSO READ: ANC MPs’ salaries docked for failing to declare their financial interests

The house chair of chairs indicated that the disclosures, which opened on 19 July, would close on 14 October.

“These dates were communicated to all members by Office of the Registrar of Members’ Interests and members must prioritise completing their declarations,” he concluded.

MPs are required to make declarations to ensure transparency and address potential conflicts of interest between their personal or business interests and their roles as public representatives.

Watch the plenary sitting below:

According to the code of conduct, parliamentarians must register their financial interests, along with those of their spouses, dependents, and permanent companions, on an annual basis.

While most of this information is publicly accessible, the confidential section of the register includes specific details about the monetary value of MPs’ interests and comprehensive information about their spouses, dependent children and permanent companions.

What interests must be declared?

MPs are required to disclose several types of registrable interests, including shares and other financial stakes in companies and corporate entities, as well as remunerated employment outside of Parliament.

They must also report directorships and partnerships, gifts and hospitality exceeding R1 500, and any other material benefits.

READ MORE: SA’s ministers, MPs now wealthier after Ramaphosa approves salary hikes a day before elections

Additionally, MPs need to declare foreign travel, excluding personal trips, business travel unrelated to their public role, and official visits funded by government bodies or their party.

They must also disclose ownership of land and property, including those located outside South Africa, pensions, public contracts awarded and trusts.

What happens when an MP fails to declare?

If an MP fails to disclose their financial interests within the required timeframe, they may face penalties such as fines, reductions in salary or allowances, or both, for a period not exceeding 30 days.

Additionally, they could be suspended or barred from participating in parliamentary debates or committees for up to 30 days depending on the severity of the breach of the code of conduct.

Earlier this year, the Joint Committee on Ethics and Members’ Interests found 11 MPs in violation for late disclosure of their financial interests.

As a result, their salaries were docked.

The MPs cited reasons such as forgetfulness and technological issues for missing the deadline.

Frolick cleared of Bosasa claims

In October 2023, Frolick was cleared of allegations arising the State Capture Commission’s reports.

Frolick had been accused of playing a significant role in influencing former ANC MP Vincent Smith, then chairperson of the Portfolio Committee on Correctional Services and Justice, to benefit Bosasa.

Smith was subsequently criminally charged with corruption.

Frolick was alleged to have received R40 000 monthly payments from Bosasa and accommodation at City Lodge OR Tambo in August 2021, costing R2 744.28.

The ethics committee stated that Frolick’s alleged actions occurred before the adoption of the current code of conduct, and therefore, the code could not be applied retroactively.

NOW READ: ‘Complaint unfounded’ – Ethics committee clears Nxesi and Zwane of state capture allegations